ScottHughes
Sergeant
- Messages
- 122
I still don't understand leverage nowThe number one thing I see new traders mess up. I would also ad not understanding their leveraging or margin
I still don't understand leverage nowThe number one thing I see new traders mess up. I would also ad not understanding their leveraging or margin
demo practice but even then too it is the best way to practice and training yourself for real trading. One can do different experiences with different plans so that they can choose the best out of them for live trading.You’re right about the demo trading, but I still think it’s a great way to practice.
Leverage is like as borrowing money from the broker, leverage allows trader use the smallest money to trade like as real value contact size, let say contract size is 2000$ with leverage you don't need spent 2000$ but lesser than this amount, let say leverage 1:2 you only need to be spent 1000$ to eligible trades on 2000$ contractI still don't understand leverage now
ou’ve probably heard this one a million times before. When trading options, just as when you’re trading stocks, it’s critical to control your emotions. That doesn’t necessarily mean you need to have ice flowing through your veins, or that you need to swallow your every fear in a superhuman way. It’s much simpler than that: Always have a plan to work, and always work your plan. And no matter what your emotions are telling you to do, don’t deviate from it.I know there are countless threads and posts about mistakes, but given that plenty of newbies get attracted to trading around December due to heavy promotions I thought I put my 5 mistakes to avoid as a forex trader here (this is not a complete list and there are many more mistakes to avoid, but personally I think it is a good start):
1. Thinking that trading in a demo account will make a trader out of you.
2. Trading in the wrong account type.
3. Miss-use of stop loss orders.
4. Thinking leverage caused you to blow your account.
5. Ignoring proper risk management
Again, this is my list and recommendation and there are plenty of other mistakes newbies make and should avoid. Feel free to add to them.