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Forex trading lessons how I ruined an account

2023/2/25 7:50:56  Classification:   Participation: 10  

Success may come in a thous rebatemeaninginforex ways, but failure must have certain commonalities best forex rebatem here to briefly share my experience and see how I ruined an rebatesinforex at the end of March, I planned to test a new bestforexrebate system because I didnt want to trade on a demo account and didnt want to take too much r rebateinforextradingk, so I opened a micro account, which is the same as a cent account and can trade 0.0001 lots (0.01 micro lots). It is the same as the cents account, you can trade 0.0001 lots (0.01 micro lots) after the deposit of $ 43 began trading on March 28th because of very little money, at first my trading volume is very small, most of the time the position is less than 0.01 standard lots, the level of risk is very low test this trading system is mainly short term trading, generally are intra-day trading, and even a large number of 1 With continuous trading, this system has an amazing success rate, often more than 10 consecutive 20 orders without losses and most importantly, the level of risk has been maintained at a very low level. Despite this, the small account grew slowly but steadily for about 50 trading days, that is, in the first half of May, the account capital had grown from $43.16 at the beginning to more than $130, which is cashback forex worth mentioning in absolute terms, but in terms of returns it had already tripled. I began to trade 0.03 lots, 0.05 lots, for more than 100 dollars of capital, 0.05 lots of trading volume is definitely dangerous to improve the volume of transactions, may be a change in mentality, trading performance is no longer stable profit and loss is roughly equal, the money has been hovering when the account capital finally grew to $ 170. The inner devil began to control my thinking I think or earn too slowly, should increase the volume of transactions I began to trade 0.08, 0.1 standard lot, put this idea into action means the road to destruction Sure enough, the account immediately more than 50% loss, in order to avoid blowing up, I began to lock single after several lock single unlocking, several times to save the account to last week, the account capital once restored to More than 140 U.S. dollars, and I have a self-destructive idea, simply bet on it, the big deal this account do not want, anyway, there are not a few money so I large-scale short AUD, the results were lost 60 U.S. dollars left 80 U.S. dollars and do more than the euro, the results of the euro fell, and I had to lock single, some dazzling lock single operation, I decided to close out the profits generated by the short single, and then bet on the euro rose The result is that the euro continued to fall, and finally the account blew up, the balance of the poor 5 U.S. dollars I have this account trading records on myfxbook, interested can go around from the point of view of financial losses, the account blew up is not worth mentioning, I do not have any impact but I have summarized a few lessons learned from here to share, I hope that the traders reading this article inspired first, do not be greedy there is an The old saying is good, do short or do more may make money, only greedy people will go bankrupt no matter how good your trading system and strategy, if you can not control the risk, the result must be a complete failure no matter how much your capital is, the risk level of any one transaction must be controlled in a reasonable range, such as 2% to 5% Second, do not lock single operation, lock single to the end you will certainly be overwhelmed, dense more than Single short single mixed cross, it is difficult to operate further eventually, in the words of Lu Xun is the account about indeed can not save the third, no matter how much profit, you should always consider the profit as your own funds Why so? Some professionals recommend that part of the profits as risk capital used to trade, I can say for sure that the vast majority can not control the greed inside, and finally will certainly not take profits seriously, used to do the so-called gambling bar for profits, no matter how much, I recommend that you pocket for peace of mind account burst, I suddenly remembered that I once read a trading book "Financial Geek", top trader Eddie Sekota in an interview I knew a trader who could make more than $200,000 in a few months with a capital of $10,000 each time, and then his mentality would change and he would spit out all his winnings. The author concluded at the end of the interview that every losers heart actually harbors a subconscious desire to lose, so even if they succeed, they will unconsciously destroy the fruits of victory and reflect on themselves;

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