According to statistics, 95% of the traders in the forex market end up losing their entire investment. Hungry for wins and earnings, these will multiply the errors and quickly find themselves in bankruptcy. To help you avoid these common mistakes and devastating, we can identify 4 today.
The impasse on the demo account
Let’s be clear, to expect to make a profit on the forex, it is essential to have first opened a demo account. It is an account that is credited with play money with which you can familiarize yourself with the world of trading and test out all your strategies without taking the slightest risk.
Forget to put stop loss
Placing stop loss helps to have a good risk management on forex. To do this, it is necessary to determine a level at which you believe your initial hypothesis will be more and set a stop loss to this place. If you are a beginner, we recommend that you position on all your positions to minimize your risks and reap the gains.
Imagine that there is an martingale on forex
Many beginners in the forex market think that they can find a magic formula to win every time. Sorry to break your dreams but this does not exist. You will find, on the other hand, good trading strategies it will be necessary to apply it with discipline and patience.
Invest money that you cannot afford to lose
The money with which you credit your trading account should not be necessary for you or your family. In the event of a loss you’d, in effect, in a situation that is uncomfortable. Use the money you don’t need to maintain your household and consider this amount as lost to avoid big disappointments.