How to protect my account from huge losses? - page 6
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i was ask as you. i got some advice . we need plan trading. we need keep risk low as 2%. and reward 4%. don't put all your money on a order. you can wrong. we can keep money in our account. you can do it
I use Binary options to hedge my risky positions. That's how I protect my positions from losses, cutting off the risks "sacrificing" with small amount of additional margin that goes to BO trade. This method of risk reduction also ensures additional safety as BO Optiontrade that I use for hedging
How do you determine the "sacrificed" amount you put into BO? I have not heard of this technique before it seems very good! does it works good for you so far?
Depends on the market exposure (lot size of open position on FX). For example if analysis shows that there is high probability of sharp/drop rise but you don't want to close your open position you can hedge it with BO.
So basically you hedge your positions in BO with the same lot size as FX right ? Why not doing it directly in FX ?
I think, devoid of learning there is no alternative way to recover huge loss. So, from my first day of trading, I have been trying to gather most accurate trading skill with support of Mxtrade. Actually, here I am getting many didactic facilities those are very supportive to acquire proper trading knowledge. From all, I like most Forex eBook where I am getting traders psychology and the behavior with essential terms and conditions. Therefore, I am also getting most accurate successful trading tips that I always use in my trading time for making profit. so, I am becoming a knowledgeable trader very rapidly.
Trade safely, short SL and never trade on exotic pairs, in sideway, you ccan get huge losses often.
So you will avoid also trading during news right ?
You shud put stop losses!
Always place a stop loss on all your trades, use a lower leverage and also use lot size for trades; this way, you will not get margin call from your broker.
Our management skills must be improved from time to time. We can start trading with demo account to hone our trading skills. PAMM trader surely need time to get better in manage account
Our management skills must be improved from time to time. We can start trading with demo account to hone our trading skills. PAMM trader surely need time to get better in manage account
Demo is a great option for every trader even the experienced ones i think as they can test any new strategy, news trading also has a lot of danger of huge loss so maybe a wider stop loss would be good idea
From my first day of trading I at all times at try to protect my los by learning. So, I have selected Mxtrade as my trading platform where many didactic facilities are on hand those are very supportive to become a knowledgeable trader very rapidly. By the way, from all these, I like most Forex Video Tutorial that is proving me all successful trading tips.