I think we need to sort out some important issues that we need to discuss.
1. Over trading :
Most of the new traders start forex trading with lack of knowledge and they do not calculate the risk management at every trade and when they faces losses in one trade then they open another trade and in this way they trade over trading to hope with recover or more profit. I think it is really bad trading and we need to correct.
2. Greed:
Basically while trading in forex we start trading with hope that we can earn huge money and our greed starts working at the beginning of trade and we can not control them and our greed kills our account most of the time. So stop trading with greed and fear.
3. Trading without any tested true trading plan or strategy:
Many traders think that forex is so easy that they can make money easily but the reality is different and we need to trade with a winning tested trading plan because without analysis of the market we should not open trade.
4. Trading without using Stop Loss:
My friend mow of the traders fail in forex trading because they do not use any stop loss and they wait for rebound the market to their way and they keep waiting for rebound and keep the loss trade open. But this is totally wrong trading.
So my friend we need to correct above points and need to trade with proper way or proper strategy.
Try to find our a true trend.
1. Trade with Trend:
My friend we need to trade with the trend not against the trend and keep in mind wait for a true trend to open a trade.
2. Trade without emotions
Keep your emotions GREED and FEAR away from forex trading because they can kill your account any time.
3. Try to safe your account from big loss
Must use stop loss or hedging to save your account from more loss.
4. Trade with proper knowledge and skill
Pray to God does not keep your account safe, trade with proper knowledge and skill and make money from trading.
Be happy and be success in trading.
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