Dear Traders
Below most common new trader problems:
1.Money managm.( dont overtrade your account do never ever use more then 8% of your account for single trade,i recommend all new traders trade no more even then 1%of account for one single trade,then bad tardes will not kill you)
2.Do not trade all the time!! Do not force the trade,for sure you will lose,if you dont see nothing going on,stop imagine it,let charts show you where to go,if nothing just step back,glue your hands to chair dont be greedy.
3.Using single indicator as trigger(like macd for examle)this is sure loss on long term,you need much more then one to confirm price direction.
4.Use trailing stops (USE STOPS),if the price is moving in your direction lock pips but smart leave 20-30pips move for price leave price some space)
do not let 50-70pips trades go on 0 or loss
5.And most common starting with 500$(can i made 10k in 12months?can i made...and simillar questions),trading with 500-2000$ is more for fun,most of those traders are losing money from 2 reasons:-they want made huge money or % without capital so they risk to much and put to much for trades then it kill them fast,
-using small amount of money you dont feel really problems before taking trade so you dont triple check coz you can think well if i lose i will lose 50$ or so.
Below friday long trade on eur/usd 15min time frame(price above pivot zone and market trend line,green line is buy indicator,red is profit protection)Profit take on 140pips using 4% of account.
HUSKY