Forex trading advices

[Flink]

We can’t separate the risks from trading but it is very important that a trader manages his risk wisely. Most new traders take high risk believing that they can earn huge rewards this way but they only end up blowing their accounts.

You’re right! Most newbies blow up their trading accounts due to a lack of knowledge about risk management. New traders must figure out what ‘stop loss’ is and how to use it in trades, as it can be a lifesaver for them.

 

[LucifarFx]

agree with you, but after having risk management sometimes the result of trading can be useless, because there is nothing 100% in there.

 

[jonahelen527]

@LucifarFx Imo, it is better to make less profit than to lose the whole amount. I never neglect using strict stop-loss no matter how sure I am about my trade.

 

[Chart_Hopper]

Agreed. Focus on what you stand to lose over what you stand go win everytime

 

[andrewborund597]

Don't think in terms of profits, rather in risk!

Forex is not about making profits, though that's the end goal. But traders get blinded by the idea of making money and don't pay attention to risk management. If you want to make money in the long run, learn to protect your trading capital.

 

[rickhobbsonce]

You can't become a successful trader without a risk management strategy. Do not chase rewards unless you can't protect your existing capital. Moreover, beware of your mindset and psychology. Keep a tab on these two things. You will definitely grow as a trader!

 

[NVP]

Most people fail because of a cr@p system or strategy - very hard to win in those circumstances

Then when a trader finally gets a decent system - failure is then because traders dont actually follow the damn rules correctly , diligently or consistently ....

N

 

[AriaS]

Anything that is not based on universal and very clear logic that you can explain yourself will inevitably make you lose in the long run. No matter how cool it looks.

 

[Gracy2]

You can't become a successful trader without a risk management strategy. Do not chase rewards unless you can't protect your existing capital. Moreover, beware of your mindset and psychology. Keep a tab on these two things. You will definitely grow as a trader!

I agree, One should know risk Management,When trading professionals and amateurs take losses. It's bad for one’s finances and mental health to make a mistake and refuse to accept the loss.

 

[lucreceross]

Do not trade without having a proper trading plan. Follow the trading plan strictly and do not make changes while trading.

 

[Gracy2]

Never stop learning and never stop trading.
Success doesn’t come overnight. Keep yourself motivated to become a successful trader.

The mind is never exhausted by learning, but by making the wrong decisions in trading. To achieve milestones in trading, it is important to practice and build confidence.