moonchild
VIP Contributor
The most important thing to note in trading is safeguarding your account, when you lose your account you won't be able to trade till you refund.
Safeguarding account can take many faces, from trading with a moderate lot that you know you can take drawdown when they occur, don't open a trade with a big lot size because you think it can go your way, trading is not gambling, it is about analyzing a market and then taking a shot with a back up plan for when it didn't go your way.
You can also safeguard your account by only entering high probability trades, in a day there are hundreds of fake signals on the chart, there are a lot of signals that will occur to lure the impatient trader, if you ask experienced traders they'll tell you that they spend most of their time sitting on their hands waiting for the right signal to strike, they don't jump on any signal that the chart throws at them.
When you adhere to these rules, you'll be able to trade with your account for a long time and make profit without blowing it and starting from scratch all over again.
Safeguarding account can take many faces, from trading with a moderate lot that you know you can take drawdown when they occur, don't open a trade with a big lot size because you think it can go your way, trading is not gambling, it is about analyzing a market and then taking a shot with a back up plan for when it didn't go your way.
You can also safeguard your account by only entering high probability trades, in a day there are hundreds of fake signals on the chart, there are a lot of signals that will occur to lure the impatient trader, if you ask experienced traders they'll tell you that they spend most of their time sitting on their hands waiting for the right signal to strike, they don't jump on any signal that the chart throws at them.
When you adhere to these rules, you'll be able to trade with your account for a long time and make profit without blowing it and starting from scratch all over again.