Actually Not Advice [for legal reasons]
Three ways to save huge losses - well one really
Money Management
Look at the chart for the currency or commodity that you want to trade.
Gold, USDCAD is smooth with shorter candles - perfect. Avoid those with long candles and chop - means longer stops and greater risk. |
Money Management
If it's not going your way then you are probably wrong. Sure, we know it turns and goes your way and you are back in the money. You don't know when, so do not add to losing positions.
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Money Management
Things are going great, your trade is moving your way and you have a huge profit - then in an instant your account is negative and you have been wiped out - then it goes the way you thought.
It appeared to be going your way because the money makers were accumulating orders before driving it the opposite way. |