I'm usually just a passive user of these forums and just want to thank you guys now for how much I've learnt. But on to my problem now
I recently started up a practice trading account with etoro to get some experience with trading gold, probably the closest I will get to the real thing without risking cash. I think I'm pretty good when the market is fluctuating and the general trend is flat or upwards. I can handle slight down trends as well, I made about 29k through short-term trades with 100x risk over a period of 5 hours in 3 days.
Well I've only been trading for a week, so I know it's not a huge sample space, but I seem to struggle when the market drops quite significantly. Last night I lost 19k in the space of less than 30 minutes as gold dropped from $1650 to about $1630, and continued to get hammered afterwards. Could anyone give me some tips on how to avoid these things happening again, just want to test them out over the next few weeks using the practice account and then hopefully someday putting them in action.