question- what are the things that a trader should never do?

Sotiria

Recruit
Messages
1
1. Stop Loss

2. Money Management

3. withdrawal options

4. kyc verification


all these steps are basic for me
 

bigdolly

2nd Lieutenant
Messages
1,233
A trader should never risk his full deposit in one deal. I think that it is obvious for most of the members of the community, but it is always useful to remember.
 

fxoday

Recruit
Messages
719
1. Stop Loss

2. Money Management

3. withdrawal options

4. kyc verification


all these steps are basic for me
Choosing the broker may be each trader has their own preference, almost all brokers comply with AML so they need to Know Your Customer, in trading stop loss is one way to manage the risk, sometimes I trade-based pair correlation.
 

Vivaan Jua

Private
Messages
20
What are the things that a trader should never do?
I see, a number of new traders try to avoid the SL in their trading; according to my own experience, you can’t go without this technical tool; money management is such an important parameter here! So, try to use the SL according to the trading chart’s requirements!
 

bigdolly

2nd Lieutenant
Messages
1,233
I see, a number of new traders try to avoid the SL in their trading; according to my own experience, you can’t go without this technical tool; money management is such an important parameter here! So, try to use the SL according to the trading chart’s requirements!
to trade without stop loss you have to have low leverage or even no leverage at all, then you can ride out any paper loss because margin will be always sufficient. No leverage is suitable for long-term trades when you hunt for many pips profit in a trade.
 

Vivaan Jua

Private
Messages
20
to trade without stop loss you have to have low leverage or even no leverage at all, then you can ride out any paper loss because margin will be always sufficient. No leverage is suitable for long-term trades when you hunt for many pips profit in a trade.
That would be so costly for sure! I think, trading with a low trading leverage is always a good choice! But, avoiding the stop loss trading tool is a dangerous move, whatever you are (short-term or long-term trader)! Money management is so much important parameter here, there is no way to avoid this calculation!
 

Dorourke5

Recruit
Messages
7
Trusting any website or person that tells you they will give you 10 fold returns in a couple of weeks. The 1 thing that keeps me from getting caught (again) is they saying - If it sounds too good to be true, then it is!! I remove PROBABLY from the saying :)
 
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