It's not easy by any means but the effort we put in to be successful in this game outweighs the effort of any other career endeavor by far in my opinion. Not just wealth, but the amount of free time you get out of this to do the things you want to do, no price on that my friend.
If you just starting off, just get a demo account with any brokerage it doesn't matter. Your goal should be to get comfortable to MT4 and mastering the platform.
The fact that you have the Data Watch and Navigator windows still open on your MT4 would lead me to believe you are new to trading. You have not given any background on your trade ideas either. Maybe step back for a bit and mess around in the demo environment for a bit longer.
I do it because in terms of career aspirations, this is the only thing I found that allowed me to make a decent living while enjoying many freedoms of being my own boss and the fact that this only requires a few hours of work per week (after putting in thousands of hours learning) means lots of free time to do other things that I really enjoy doing, like my hobbies.
I tried this once when I attempted to make a FOREX.com Demo account so I could access the US dollar index on my FXTM MT4 platform. I was unsuccessful, I could find the server but could not login.
Yes theoretically, if you have lots of little positions open and they all draw down, or if you have a few larger positions and they draw down, you can most definitely wipe out the account.
A plan is so success, my success exponentially grew after I made a proper plan and only traded my plan. Journaling helps too. Its much more work than before but it has paid off.
You know what they say, if you fail to plan then you have planned to fail.
I think you are doing something wrong. If you had a proper plan, theoretically you should be trading your plan which should include risk parameters. So after you place your trade and your stop loss and take profit, you leave the trade alone until either one of those gets hit.
Based on this, there is no need to monitor the trade. If you have to monitor the trade after entering, that means you entered to early as you are seeking confirmations after already being in the position.
Ignoring could be a healthy response in many situations,
for example if the responder has nothing positive to say to the situation or perhaps lack knowledge of the subject. Sometimes its fine to ignore don't you think?
I trade the same setups during the summer that I trade during the est of the year. My risk:reward however is reduced significantly as the ADR of many major pairs is greatly reduced during the summer from my experiences.
Just don't expect too many large moves during the day compared to other parts of the year!
I disagree, you should not look at pips nor the dollar amount of your profits.
To be successful over the long term, percentage gains as well as R:R are more important. That is what you should keep track of when building your account.
For example if you have a 30 pip win and a 5 pip stop loss on that trade, that is a 6R trade which could translate to 6% of your account assuming you risked 1% percent and this is an amazing trade from any perspective.
In my humble opinion, Focus on growth, not profit.