Samantha Hadid Discussion

Ok I took a look at the trade history on your account.

You aren't using any money management to protect your account.

For example:



You aren't using any money management techniques to protect your account.


Your lot sizes get bigger or smaller for no understandable reason.



You aren't regularly using a stop loss or take profit targets.


From your initial deposit of $15566.17, your account has suffered a loss of -$5679.42.

You now have a balance of $9886.75

The reason you are losing money so quickly is due to the fact that you are not using effective money management or asset protection rules.

You should limit your trading to only those currency pairs which you have a firm understanding of, GOLD is clearly NOT a good trading instrument for your strategy or the lack thereof.

So forget about trying to get rich quick like you've been doing, and I would concentrate on account recovery in a low risk manner.

OKAY.... here is what 'I' would do in your situation.

You've made 24 trades on your account in total.
With those 24 trades, you've experienced approximately -$5700.00 in total losses against the initial deposit.

Of those 24 trades that you made, 12 of them have been losing trades with resulted in losing almost 40% of your initial investment capital.

Clearly what you've been doing is not working for you.

Trade MUCH smaller lot sizes and stay away from non-standard currency pairs.


A general rule that I would suggest is to never exceed a lot size of greater than 0.01 per $1000.00 on your account.
In addition, I would stick to only trading the Majors.

For example:
Balance: $9886.75

$9886.75 / $1000.00 = 9.88675

Lot size per $1000.00 = 0.01

Max allowed lots = 9.88675 X 0.01 = 0.09 lots

So this would give you a maximum lotsize of 0.09 that could be open at any one moment.

More example:

EURUSD BUY 0.05
USDCHF SELL 0.04

This would give a total of 0.09 lots maximum that could be opened against your $9886.75 account balance in total.

Trying to get rich quick in forex a really bad idea, that's the exact same way to get poor fast in forex.