So Guys here I will tell you how a new trader wash first 5 to 10 accounts Easily.
Every new trader does these mistakes. if you wash 1 or 2 accounts and still in a loss, then read the whole article.
So, first of all, you need a one proper full A to Z forex course.
Your basic concepts must be Strong and clear.
When you learn something new share with your friends and post on your FB wall.
Never open demo account for practice and test your system .
SO why no demo account, Because when a trader open demo and test strategies .
He place orders randomly,
No Proper SL,
No Proper TP,
Never use Trailing Stops in Demo ,
Never use Stops or Limits Orders ,
Never cut half trade ,
No emotions involve,
No focus on news ,
Place order and close MT4,
No involvement with market,
Never attach emotions with demo money,
No money management,
No proper risk and reward ratio, and many more mistakes ..
Now you know why i hate demo. Demo account is a trap.
So you cant test your system in the demo. Always open real account for testing.Open micro or real mini account with less than 100 $ for testing not for growth.
Another Mistake.
New trader always thinks he can convert 100 $ into 1000 $..
its possible but not for new trader.
So he invests 100 $ and wash, again 100 $ invest and wash ..
Then he has less invest left so he try in Binary options and think he will convert 50 $ into 500 $ and then i will invest this 500 $ in forex and guess what binary 50 $ account wash.
All money gone.
So what is my point? Always think real and possible things.
A new trader should invest first more than 500 $ in one account and your account type must be ECN...
Why ECN Read SL Hunting Article .
Another Mistake ...
When a new trade open MT4 he places trade quickly without analysis.
When he place trade with SL TP , and after 1 or 2 mints he realizes he place a wrong trade.
SO he draws trendlines, Moving Avg, Pivots, S/R, RSI etc.
After all analysis he knows he places a wrong trade then he moves SL and TP near Entry point and what next SL hit ...
So always first do analysis then place trade ...
Another Mistake .
Like When a new trader suppose invest 100 $ and he loss 50 $. Now he trades in news time just to recover the loss, and here the same thing happen high volatility and account wash .
Another Mistake ..
Join FB , Telegram , Whatsapp Groups for Signals ..
Always Join informative , Educational Groups .
Another Mistake ..
New trader always think that if i learn Advance methods or Strategies i can earn more .
This is wrong thinking .. So always be expert in a simple Strategies.
Another Mistake..
New trader fully depends on indicators .
He daily change indicators.
They don't work on Price Action Methods .
They always use 5 to 10 indicators on chart for confirmation .
So always use 1 or 2 Oscillator on chart and always use indicators for confirmation of your price action analysis.
Another Mistake..
New Trader Always change Strategies after some days ..
New trader always try to find Holy Grail System .
So here i will give you holy grail System .
Which is Consistency , Practice , Hard Work , Focus , Money Management , Good Risk and Reward Ratio.
if you apply these 6 things in any system then that system became Holy Grail for you.
...........................................................................
NOW i think you know your mistakes . Read my other Articles.
Share with your Friends and post this article on your FB Wall.
GhaniFx 100 Trading Tips
illuminati ? Where is Real Gold ?
My Forex trading Rules
He place orders randomly,
No Proper SL,
No Proper TP,
Never use Trailing Stops in Demo ,
Never use Stops or Limits Orders ,
Never cut half trade ,
No emotions involve,
No focus on news ,
Place order and close MT4,
No involvement with market,
Never attach emotions with demo money,
No money management,
No proper risk and reward ratio, and many more mistakes ..
Now you know why i hate demo. Demo account is a trap.
So you cant test your system in the demo. Always open real account for testing.Open micro or real mini account with less than 100 $ for testing not for growth.
Another Mistake.
New trader always thinks he can convert 100 $ into 1000 $..
its possible but not for new trader.
So he invests 100 $ and wash, again 100 $ invest and wash ..
Then he has less invest left so he try in Binary options and think he will convert 50 $ into 500 $ and then i will invest this 500 $ in forex and guess what binary 50 $ account wash.
All money gone.
So what is my point? Always think real and possible things.
A new trader should invest first more than 500 $ in one account and your account type must be ECN...
Why ECN Read SL Hunting Article .
Another Mistake ...
When a new trade open MT4 he places trade quickly without analysis.
When he place trade with SL TP , and after 1 or 2 mints he realizes he place a wrong trade.
SO he draws trendlines, Moving Avg, Pivots, S/R, RSI etc.
After all analysis he knows he places a wrong trade then he moves SL and TP near Entry point and what next SL hit ...
So always first do analysis then place trade ...
Another Mistake .
Like When a new trader suppose invest 100 $ and he loss 50 $. Now he trades in news time just to recover the loss, and here the same thing happen high volatility and account wash .
Another Mistake ..
Join FB , Telegram , Whatsapp Groups for Signals ..
Always Join informative , Educational Groups .
Another Mistake ..
New trader always think that if i learn Advance methods or Strategies i can earn more .
This is wrong thinking .. So always be expert in a simple Strategies.
Another Mistake..
New trader fully depends on indicators .
He daily change indicators.
They don't work on Price Action Methods .
They always use 5 to 10 indicators on chart for confirmation .
So always use 1 or 2 Oscillator on chart and always use indicators for confirmation of your price action analysis.
Another Mistake..
New Trader Always change Strategies after some days ..
New trader always try to find Holy Grail System .
So here i will give you holy grail System .
Which is Consistency , Practice , Hard Work , Focus , Money Management , Good Risk and Reward Ratio.
if you apply these 6 things in any system then that system became Holy Grail for you.
...........................................................................
NOW i think you know your mistakes . Read my other Articles.
Share with your Friends and post this article on your FB Wall.
GhaniFx 100 Trading Tips
illuminati ? Where is Real Gold ?
My Forex trading Rules
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