sincerem
VIP Contributor
I'm not a forex trader, I'm trying to learn and to join the elite forex traders. I'm a crypto trader making use of binance exchange to trade, invest in other crypto options to earn money when the market favours me.
Now I'm turning my attention a little to trading on forex to fancy my time achieving financial success with time. I'm not in a hurry to trade forex, cos i know being anxious to make profit can make me lose it all. That's while I'm taking my time to ask this question to know the scope, strategies to use in order to cut short my losses when my trade aren't going as planned due to market fluctuating to the wrong side.
In crypto we make use of stop-loss to determine the amount you are to take as profit and the amount you accept as loss when placing a trade. I believe same applied to forex trading but I'm not too convince.
How can a beginner in forex trading avoid losing too much funds more than he or she expected when the market is turning opposite??
And how can you turn the table around making profit around forex trading??
Share your experience so we learn together, thank you.
Now I'm turning my attention a little to trading on forex to fancy my time achieving financial success with time. I'm not in a hurry to trade forex, cos i know being anxious to make profit can make me lose it all. That's while I'm taking my time to ask this question to know the scope, strategies to use in order to cut short my losses when my trade aren't going as planned due to market fluctuating to the wrong side.
In crypto we make use of stop-loss to determine the amount you are to take as profit and the amount you accept as loss when placing a trade. I believe same applied to forex trading but I'm not too convince.
How can a beginner in forex trading avoid losing too much funds more than he or she expected when the market is turning opposite??
And how can you turn the table around making profit around forex trading??
Share your experience so we learn together, thank you.