My acct was just bombed with $3k loss, don't know if I ever come back except with small gambling money. The cause? Not enough protection from stop loss, not enough winning trades, USD takeoff you name it.
90% of traders lose 90% of their account balance within 90 days of opening their account
The question is, how do we prevent this from happening to 90% of people?
Is it the broker's fault? Or the trader's fault? How can you call yourself a trader if you don't know how to risk manage? Also, surely there can be no correct risk management when it comes to binary trading as your risk will never be less than your reward, however people prefer it as it appears more simple (i.e. more easier to throw away money) than Forex.
moneyfred2014 posted: My acct was just bombed with $3k loss, don't know if I ever come back except with small gambling money. The cause? Not enough protection from stop loss, not enough winning trades, USD takeoff you name it.
You blew your account after the FOCM announcement !? really?
I was just asking in another thread , who would be trying to sell USD during that rally!!!!
I think the cause is prerrt simple: Only way to earn in forex is to have skill to predict the market. We think that we have that skill, based on few lucky trades, but actually only minority actually knows where the market is going. Others are just gambling, no matter how good 'risk management' they have.
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