A few days ago I almost blew my demo account to ZERO because of two problems I’m dealing with right now:

1. I don’t know how to set my take profit properly.
I usually set my stop loss 1000+ points below my entry (I use the EG Money Management Indicator), which normally works and helps avoid premature stops. But I still don’t know how to define a good take-profit level. Many times price reaches good profit levels but not exactly where I expected my take profit to be, and I end up not closing. Often the trade goes into profit first and then reverses and hits my stop loss anyway — sometimes even after moving strongly in my favor.

2. I sometimes ignore my own rules.
One of my rules is: if I realize I entered at the wrong time or in the wrong direction, I should close the position immediately to avoid a bigger loss. But what actually happens? When price gets close to my stop loss, I move it further away, hoping the market will turn back in my favor — which usually makes things worse.

Because of these two issues, last Saturday (31.01.2026) I nearly wiped out my demo account on a BTCUSDm buy position.

NB: I USE - MT5 XARD - Simple Trend Following Trading System
But removed it so you guys can see where i bought and where I had to remove my position.

I’ve been trying for a long time to understand how the market works and turn it into a source of income, but unfortunately I’ve been on and off since 2017, often quitting halfway through the journey. Time doesn’t forgive — it flies — and I don’t want to look back in the near future with regret for not dedicating myself enough to overcome my own limits and weaknesses. If others can learn it and make a living from it, why can’t I? See you in the next post.