All I ask here is that you don't give up. Greed is a major factor in your type of losses. You lost half of your account in one session. That is greed. Another reason people lose is they give up and quit. Focus on "Sound" money management. Make rules and stick to them. Such as I will only risk 5% or I will only risk 20-30 pips per trade and as soon as the trade as met your criteria for a loss then exit the trade.
Also set rules for winning trades so you don't get stuck in the greed trap. Take two orders, set one profit target at 20-30 pips, as soon as that profit target is reached move your stop to breakeven and enjoy a risk free trade up to your second profit target of maybe 50-100. Above all stick to whatever rules you make and do not violate them.
Keep in mind these are "Examples" of a type of trade management. Look into your own goals and what you hope to accomplish so you can set more accurate rules for your trading style. However don't set crazy rules.
You are dealing with money, capital preservation is key, especially when you are just starting out. An ancient quote goes like this.
"Instead of looking for the homerun every session, it is better to hit singles and stay in the game"
Good luck.
I look forward to watching this journal progress.
Also set rules for winning trades so you don't get stuck in the greed trap. Take two orders, set one profit target at 20-30 pips, as soon as that profit target is reached move your stop to breakeven and enjoy a risk free trade up to your second profit target of maybe 50-100. Above all stick to whatever rules you make and do not violate them.
Keep in mind these are "Examples" of a type of trade management. Look into your own goals and what you hope to accomplish so you can set more accurate rules for your trading style. However don't set crazy rules.
You are dealing with money, capital preservation is key, especially when you are just starting out. An ancient quote goes like this.
"Instead of looking for the homerun every session, it is better to hit singles and stay in the game"
Good luck.
I look forward to watching this journal progress.
"More important than the quest for certainty is the quest for clarity"