Gee Dee Posted September 13, 2019 Share Posted September 13, 2019 This tip is a simple yet critical one that many traders miss, know your limits. This includes knowing how much you’re willing to risk on each trade, setting your leverage ratio in accordance with your needs, and never risking more than you can afford to lose. You don’t have time to sit and watch the markets every minute of every day. You can better manage your risk and protect potential profits through stop and limit orders, getting you out of the market at the price you set. Trailing stops are especially helpful; they trail your position at a specific distance as the market moves, helping to protect profits should the market reverse. Quote Link to comment Share on other sites More sharing options...
bigxy Posted September 19, 2019 Share Posted September 19, 2019 Leverage should be kept low in start because the new traders being unaware of the market conditions may end up blowing their balances as high leverage means high risks as well. Quote Link to comment Share on other sites More sharing options...
Analar Posted April 2, 2020 Share Posted April 2, 2020 With Amarkets, I was not afraid to use a large leverage as financial experts helped me Quote Link to comment Share on other sites More sharing options...
Kigalmaran Posted April 13, 2020 Share Posted April 13, 2020 Of course, you need to understand that there are boundaries that it is advisable not to cross. Quote Link to comment Share on other sites More sharing options...
Monaya Posted April 17, 2020 Share Posted April 17, 2020 It really helps in trading very well when you know where the limit is. Quote Link to comment Share on other sites More sharing options...
Shakaktilar Posted April 19, 2020 Share Posted April 19, 2020 Apart from knowing your limits. It is also important that you know the proper way to get into forex trading. Forex trading is a risky business to be in and it may wor or go against you If you are not strong and think accurately then you will lose alot of money. It is advisable that when you join forex trading you do so but with money that is not important to you. Some newbies join forex trading with their savings. Some have a lot of savings and end up losing it all. Never get a loan so that you can use it in forex because forex is like a gamble. There is never a one hundred percent assurance that the trades will work your way and you have to understand that. Knowing your limits also means knowing the amount of money you decide to put in to forex. Quote Link to comment Share on other sites More sharing options...
Cejurus Posted April 24, 2020 Share Posted April 24, 2020 Of course, you must always understand and calculate the risks. Quote Link to comment Share on other sites More sharing options...
ComicDude Posted April 26, 2020 Share Posted April 26, 2020 This is a very difficult task for the newbies with a lot of ambition. You may call it emotion. There are some that read this threads but still keep on making the same mistakes despite knowing them.It is emotion that drives them . When most people join forex, they think that it is a very good place to earn a lot of money within a sort time. they are mislead nby adverst that make things look simple. Everyday there are claims of people saying that they lost lots and lots of money onforex trading. I usually wonder if they read the threads for newbies or not. For this reason we have to repeat it to them so that they get what is going on. Higher risks mean higher profits if trades go their way which is what they want. Some of them are willing to gamble away their money for the sake of it. Quote Link to comment Share on other sites More sharing options...
Thorgagar Posted July 18, 2020 Share Posted July 18, 2020 You always need to set reasonable limits for yourself to be profitable. Quote Link to comment Share on other sites More sharing options...
gds221 Posted July 19, 2020 Share Posted July 19, 2020 A very important trait for a trader is to be able to control yourself. I myself have been working in this industry for quite some time with the broker Amarkets, and so far I am really pleased with the results of the work. Quote Link to comment Share on other sites More sharing options...
Kelerad Posted August 6, 2020 Share Posted August 6, 2020 Set limits for yourself and don't go over them until you have a good experience. Quote Link to comment Share on other sites More sharing options...
gds221 Posted August 6, 2020 Share Posted August 6, 2020 I started setting limits for myself starting with the minimum deposit. I chose the Amarkets broker to work, where the minimum deposit is $ 100. Quote Link to comment Share on other sites More sharing options...
Vaabum Posted August 9, 2020 Share Posted August 9, 2020 Knowing your limits for a trader is simply necessary. Otherwise, the trader may go too far and lose his funds. Quote Link to comment Share on other sites More sharing options...
gds221 Posted August 10, 2020 Share Posted August 10, 2020 This applies not only to trading - in everything and you always need to know and have your borders. Otherwise, the results will not be the most pleasant. Quote Link to comment Share on other sites More sharing options...
Pyridge Posted August 10, 2020 Share Posted August 10, 2020 you always need to calculate in advance your possible profits and losses, so you can come to success in trading Quote Link to comment Share on other sites More sharing options...
gds221 Posted August 17, 2020 Share Posted August 17, 2020 Knowing your limits is very important. In general, the trader needs to know this fine line when it is already worth stopping. Quote Link to comment Share on other sites More sharing options...
Vaabum Posted August 17, 2020 Share Posted August 17, 2020 For a trader, it is really very important to understand the limits in which he can work. I myself work with the broker ExpertOption, has already learned to control myself. Quote Link to comment Share on other sites More sharing options...
Juleenelya Posted August 18, 2020 Share Posted August 18, 2020 the main thing is not to go too far into the minus, everything else is not so important Quote Link to comment Share on other sites More sharing options...
gds221 Posted August 21, 2020 Share Posted August 21, 2020 Usually a trader knows his limits, and this is extremely important for him. As for me, this is one of the key tasks of a trader. Quote Link to comment Share on other sites More sharing options...
Monaya Posted August 28, 2020 Share Posted August 28, 2020 You do not need to raise your limits when you have certain goals and plans because this can negatively affect your trading. Quote Link to comment Share on other sites More sharing options...
gds221 Posted August 28, 2020 Share Posted August 28, 2020 It is extremely important for the trader to understand his boundaries in which he can work. Otherwise, he will simply waste his deposit. Quote Link to comment Share on other sites More sharing options...
Juleenelya Posted September 16, 2020 Share Posted September 16, 2020 you always need to control your expenses and losses during transactions, so at least you will keep your deposit in order Quote Link to comment Share on other sites More sharing options...
gds221 Posted September 25, 2020 Share Posted September 25, 2020 Traders should always know their limitations and their capabilities. This is the most appropriate option for organizing work. Quote Link to comment Share on other sites More sharing options...
Kelerad Posted September 30, 2020 Share Posted September 30, 2020 Our result will directly depend on how clearly we will set our boundaries. Quote Link to comment Share on other sites More sharing options...
gds221 Posted October 1, 2020 Share Posted October 1, 2020 You need to know your limits anytime, anywhere. This is a key concept for self-control. Quote Link to comment Share on other sites More sharing options...
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