Is it all about "attack" in the forex? Defend your margin too
This is really important; it is necessary for traders to watch out for their trades in the sense of safeguarding their position by reducing possible losses while on the push for profit. To make more money in the forex, you have to safeguard your capital first. This is why traders hoping to make profits should also set stop loss.
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It is a very popular saying that the best form of defense is attack. In modern warfare, the protagonist don’t sit at home, building bunkers and fences, no they take the war to the enemy- waging the battle at his gatepost. Aggression therefore has become the better form of self-preservation. Most traders have taken this attitude to the forex as they think the philosophy of attack automatically translate into the forex as well. So that when they trade, they are so attack minded; that is they are all about the profits, about gathering more pips, about inflating their realized margin (RL) forgetting about safeguarding the little they have first. In this way they carelessly let down their guard- taking unnecessary risks just to make more money.