Starting out in the forex market is definitely an exciting experience but you must be very careful not to make these dangerous mistakes that most beginners make.
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🚨 Undercapitalization
Insufficient initial capital is the first mistake by beginners, and it usually ends up killing them.
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Your trading capital is lost even before you have the time to properly learn to trade.
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This is what usually happens to new traders:
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📎They don’t have sufficient trading knowledge and experience.
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📎They are not familiar with risk management principles.
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📎They underestimate the risks involved in their setups, which leads to impulsive and often expensive execution.
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Another habit is among trading newbies is using tight stops on small lots and even smaller trading accounts.
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📎Using small trading lots is not a death knell for newbies’ accounts but using small and tight stops might be.
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📎By using short and tight stops, you increase your chances that the stops will be triggered more frequently and your total loss will consist of many small losses.
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Your trading account should be as large as possible in order to correspond with market conditions and provide the necessary flexibility in making trade decisions.
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Like any business, you have to make sure you adequately funded. Don’t try to lower risk by only depositing a portion of your available trading capital.
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🚨 Overtrading
Overtrading is when you (hoping to receive the maximum possible profit) open a huge position consisting of multiple lots. Considering the typical market activity, it’s easy to lose half or even all your trading capital with this.
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This problem is sometimes directly connected to insufficient trading capital.
But it’s more likely due to the trader lacking knowledge of money management principles, which means lack of competence to control their trading capital properly.
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Your trading capital is used to earn money.
Your first and foremost responsibility is to protect it. If you lose it, you have less to help you earn money.
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Have you ever made any of these mistakes?

Contact admin for more information ℹ️ 👇

https://t.me/KarenWilsonfx

❗️IMPORTANT RULE❗️ 🚨 For any Order you should use 2 % from your account , some traders can't calculate it !!!!!!
Ex : If your account is 1000 $ * 2% = 20 $
so , if SL hitted you will not lose more than 20 $
whatever SL 50 pips or 100 pips , your loss can't be more than 20$

🚨To do that you should adjust position size (Lot size)
use online lot size calculator ,it will help you much
https://www.babypips.com/tools/position-size-calculator

🚨Remember that Money Management and Risk Management are Forex Holly Grail

Why don't we close the deal when there is a loss and stick to our setup and manipulate the loss limit?

Do you think that you are only running away from the amount of loss that you will receive after the loss limit is activated?

If your answer is yes, then why does it get confused after three or four stops in a row and you think of changing your strategy or optimizing your standardized strategy more?

When you know that it is normal to make mistakes in trading and you are allowed to make mistakes, then why do you become cruel and unkind to yourself after two stupid mistakes?

You do not accept loss because you think that your identity is shown by your transactions...
You don't close the deal so that you don't lose and the price returns so that the deal doesn't become a seal of approval for the judgments and comparisons you've made so far...
The truth is that many times you don't just run away from losing, you run away from the attacks your mind will make on you, you run away from judgments and comparisons.

Stay in the game and let yourself grow.
It takes dedication to accept yourself as you are, to strive for your growth, and to change yourself.

Account Management / VIP Premium Service

CONTACT ADMIN👉https://t.me/KarenWilsonfx