How to protect my account from huge losses? - page 3
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Use stop losses - but in some cases not even that will help
It is not just leverage. You can take exactly the same risk with 10:1 and 1000:1 leverage. If you do not calculate your risk and lot size corrrectly, nobody and nothing can hep you : not even leverage 1:1
Leverage for trading must be maximize as well as possible. For trading, i only use 1:500 i and i also only use small amount. But when trading i only use small lot size
Leverage for trading must be maximize as well as possible. For trading, i only use 1:500 i and i also only use small amount. But when trading i only use small lot size
You are protecting your account using 1:500?
Could you show us your trading record
Practice of money management is a way of protecting your account. With money management you can determine your risk level and put it into control and so protect your capital from substantial loss.
Useless to guys that were hit by the SNB robbery
Thanks for all the info and opinions. Lots of good advice in here!
...when I was young I was going to Las Vegas often...I didn't keep account of my total losses...but I was losing....Ones I had to sell my spare tire for $9 to get back home to Los Angeles...(It was before credit cards)...for the last 20-25 years I haven't gone there (Las Vegas)...and guess what...I DID NOT LOSE a SINGLE DOLLAR GAMBLING OVER THERE!
The practice of money management is a very good way of protecting your account from huge losses. And also the use of stop loss will help you from loss when there is a sudden change in the market.
The practice of money management is a very good way of protecting your account from huge losses. And also the use of stop loss will help you from loss when there is a sudden change in the market.
Management skills is important in forex. We can use demo account to make practice, hone money management skills. Although we have no large capital for trading, but we have good skills, we will get maximal result in forex
Losing money in forex can be minimized. We will not be bale to eliminated that risk in forex. That's why before we trade in forex, we should use demo account account first to start, learn how to minimize the risk and how make our account survive although we only use small amount.