Hello Fxtrader,
We have to admit that Trading Is NOT For Everyone. It is a tough rewarding job so it is attractive. So, If you have any living making way, go after it and thank God for just losing some thousands.
Assuming that you have no alternatives and have to get your money back from forex
If I were in your shoes I would think in the following scenario,
I am thinking loudly
- I made a terrible fault by using my hardly borrowed money in real trading with no experience. but, I have to keep going.
- In this case, I have to minmize my costs to min.
- I will draw a roadmap specifying targets, objectives, milestones and activities in a specific time frame
- my main objective is to Learn Learn Learn.
- I have many resources like moneytec and enourmus web pages for free, I will collect many ideas and conepts then try them on free
demo accounts. I will ask to find out
- I have to focus on psychological issues which control over 70 % of the game.
- my plan will end at finding a self-fitting trading style after say 6 months. no hurry.
- I will try this style on demo for a month and recording my journal then evaluate and trade again then evaluate ....so on.
- Finally I got it..! , I will use 300 in mini account with a low spread broker like Oanda with focus on one pair (Eur/Usd or Usd/Chf) and using one lot.
- no matter how I made ( stop at 10pip daily or 15pip loss ), I am trying to keep consistency
- then increase lot no. with one pair and same target.
- define objectives and reward yourself in reaching it.
I believe it will be ok afterwards
Good Luck
Hani
