We always advised by the senior traders and experts just for learning. but I think we the newcomers have to practice trading besides learning process. Demo account is more appropriate for them and as a learning Process newcomers can depend on Pips School.
Loss is an inevitable part of trading there is nobody who can avoid it completely; mostly loss occurs due to lack of exact money management plan as well non-skill trading knowledge. So, for avoiding loss we have to focus on there.
As defeating as losses feel, how we react to lose that is more important than the loss itself, As defeating as losses feel, how we react to lose that is more important than the loss itself I would suggest you have a plan, Make a detailed action plan for future trades, Stop trading: Take a break to figure out what went wrong and also Accept responsibility: You made the loss; be sure to own it.
Mohammadi posted: There is nobody who is able to reduce loss completely from this volatile trading place, but taking some major steps it can be reduced sometimes. If we can manage our risk when trading practically then it is possible to reduce loss form before. So, we have to emphasis on risk management policy besides acquiring good trading knowledge.
Thats true. Trader should always use minimum 1:2 risk reward ratio. If your wining trade less that losing, it still bring you the profit.
Loss is a part of forex trading. You can not avoid loss trade fully. That's why you need to manage your risk. You need a good risk reward rario strategy with decent winning percentage. Most people don't bother about risk management. As a result lose a lot of money.
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Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
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