I have been trading for almost 5 years now starting 2016 on the forex market and I survived without blowing my account. In 2019, I suffered severe losses which I am still recouping but I can say now that this helped me to understand my level of loss acceptance perception what is good account leverage, account load and position size.
If you planning to start trading forex be aware of the following:
1. Good trading happens with real money.
2. Bigger account is always better. 100 000 to 200 000 is optimum. (on footnote if one tells you that they can turn 10 000 into million in one year run away. Although is possible it is unsustainable.
3. Hedging is ok if you don't mind to wait. Sometimes for long. I hedged few positions an year ago and give up right before they run in one direction. Hedging works with trending markets. If market is ranging you hedging might kill you with the fees. Be vigilant and maintain lower sizes.
4. Try to take a trade per week. Sometimes skip it. What makes you good trader is not how many positions you take but rather how patient you are to enter properly.
That's it for now. Let your good trades run and hedge bad or cut them off.
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