🔔 Lot size:

The lot size must be accurate while trading. Using a higher lot size than the required one with an unrealistic profit expectation is always unhealthy for your account. So, we recommend using 0.04 for each 1000 USD, so an account below USD 500 should use 0.02, and USD 250 should use 0.01 lot size.

Also, You can use -https://www.babypips.com/tools/position-size-calculator

Mastering trade, we make many mistakes. Among them, there are four main ones that can destroy your score 💩
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1. Passionate desire to be rich
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Basically, there is nothing wrong with wanting to make a lot of money. But newcomers are prone to a manic desire to get rich, and this leads to excessive trading and poor money management. 💸 It's also accompanied by fear and pity, and these feelings are destructive.
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Forex is a long-term career that will provide you
good old age if you are patient and reasonable now. Do not expect millions and a cool car in a week.
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2. Fear of loss
From a young age, we were sure that success means having a lot of money. Losing money - the opposite of making money - means failure.
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Some beginners have been trading demo accounts for several years, fearing to open a live account. And when opening real accounts, they panic every time they open a deal and ultimately make rash decisions 🤯
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Losing money provides some very important lessons and makes you think rationally. Fear of money does not bring anything good, but only encourages a decision based on emotions.
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Every professional trader has lost money. Not every trade will be profitable.
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The market simply does not always work in your favor, and if you leaked your first deposit, so be it. But pull yourself together and try again, it will make you a cool trader 😎
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3. Lack of discipline
This is one of the most common and dangerous traps, although it is rarely talked about.
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A trader who lacks discipline can never succeed in Forex trading.
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One of the reasons for the lack of discipline is ... These are traders who constantly adjust and change their trading methods. They do not understand that learning takes time 🤓
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These traders lack discipline to stick to the system and learn it. They try it for a week, and when they do not work, they switch to the next system or method.
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Trading methods have periods in which they operate below average. No matter how universal the method is, it cannot work with maximum efficiency in any market conditions. A real trader has the discipline to withstand this in difficult times.
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What mistakes did you make at the beginning of the trade?
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@Karenwilsonfx

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