How to protect my account from huge losses? - page 5
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Use stop loss. And take profit. And of course create your trading plan
If you did not mention the last part I would complain. But without the trading plan, stop loss and take profit are useless. It is the system (any system that a trader tested ) that protects a trader from huge losses. Without a system all is useless
Low leverage ... and stick to your trading system (if it is not a nonsense system)
Low leverage ... and stick to your trading system (if it is not a nonsense system)
Although i agree with having low leverage, what do you recommend for low balance?
Don't trade NFP
Don't trade NFP
Even better : not to trade
Risk of losing s a part of trading - we can not avoid it
Even better : not to trade
That would be too simple (nobody would lose, and that is not what the brokers would like
). Imagine that selfishness : keeping your money just for your self and not risking it for some broker
There are several tools to be used in order to make your trading safer. For instance, you can trade with micro lots accounts and high leverages and use stop losses.
high leverages are not going to protect you
high leverages are not going to protect you
I think so, even it can make us be greedy trader. I prefer to use 1:500 ifor trading. Because it will help us to minimize the risk. We will not use big lot size while our margin is not enough for trading.
I think so, even it can make us be greedy trader. I prefer to use 1:500 ifor trading. Because it will help us to minimize the risk. We will not use big lot size while our margin is not enough for trading.
How are you "protecting" your account with 1:500 leverage. Come on people, be serious ...