Forex risk | The barrier to entry is shallow and you also have brokers that give you long leverage
Once you start wanting to learn more about risk management when you need to start opening something at least you can close it at 50% size, you probably want to have you know preferably a $100 account on the lower end you don’t want you don’t need a lot of money to start trading and that’s why it’s so beautiful because the entry barrier is shallow and you also have brokers that give you long leverage, trader ready for lunch, look around and enjoy your asparagus potatoes, sir, I see you what should I do I took 15 pips, it’s good that you won’t You lie, you are very informative.
Forex risk | The barrier to entry is shallow and you also have brokers that give you long leverage
I try to be honest, I try to be transparent, and I think most of that will help everyone here on their journey, some people know some of the things I’m saying but maybe the majority of people don’t. How much capital do you make from your profits? My capital doesn’t matter because I started with this $200 account bro.
What is your advice to a Forex trader in the event of a negative drawdown of 1.5%?
I think this is a perfect negative percentage of 1.5% and that’s not a bad drop, I had a loss of like 2% just a couple of days ago, so I think a negative 1.5% isn’t too bad just make sure you keep your cap on it at a certain percentage maybe like 2 % or just over 2%. I know if you have a small account, it seems like a very small amount of money to me, but just think about the longevity of this thing you want. I will trade with a big account you know in time, trust me, you will trade with a bigger account.
Is it a problem to keep forex trades even if you think they will apply any tips?
I think if you’re having difficulty with making trades there are a couple of things you can do, you can either close partial positions maybe about 75% and maybe you know 80% and then let the rest of the trade run at least you’ve secured something because the moment it breaks a pip Your Stop So Ideally, you should secure some parts If you’re just trying to trade with a main account, you know many traders are very different.
It’s very hard for me to tell you to do one thing because I know there’s something else that works for someone else but the way I see the market, I think if you put your stops in to break even most of the time, you’re better off just… Secure something you know, if you don’t plan to keep the position.
But if you are planning to hold that trade what will help you keep that trade will be macro fundamentals and that is what will help you hold your trades longer and you will not feel bad about the drawdown because trust me if you know how macro fundamentals work.
What will help you keep your trades longer?
We’ll see the markets play beautifully every time, just watch how it’s going to be for the FOMC, we’ll get the FC in 13 days, come back the next day during the pre-London session, and you’ll see the market’s reaction from yesterday’s news and if it moves higher and you see That the market is moving up man up, that would give you confidence because most people are slaughtering their entries and they don’t even know it but they are in their positions and winning because the macros are in play right and that’s why the loss is stopped and they don’t get beaten.
To learn how to trade macros, this is when you’re going to make your money, this is when you want to keep runners, and every month you’re going to go get some macro, you know if it’s like a war, the FOMC is talking that there’s going to be Something, so you’re going to have some opportunities to make good money, how do I think the news is going to affect you’re going to I think the numbers here should be bad for the US dollar, it’s an increase from 215k to 2218k, so we should see bad numbers, this is on The least we think about.
Can I sell Forex trading during the transaction?
If we get below 218k that will be good for the USD but as of now it looks bearish for the USD and that means the Forex trade should go up, can I sell the Forex trade now or do I think there is selling at the moment, these are The move, it’s like I think the 16.6 bit stop loss is where the sellers are and they’re looking to take it to the next level of support, so you better want to be here, that’s going to help you manage your risk better.
Wait actually no you might have some expansion opportunities in OPP nah and it’s not so great there but it could happen it’s not part of the textbook setup we would like to take but we have another auction house here waiting for the drop to continue maybe if we break out what Without these wicks man, you have to be selective with your trades because the market will show you a lot of opportunities that you don’t have to take and you know when I started this trade we didn’t have a lot of confluences all together you had a retest of the break and then the break of the lows Wick for entries but we didn’t have any small and we didn’t have any head and shoulders.
Summary
Maybe all you have here is accumulating after breaking a potential key level faking it’s not the most stressful trade though bro what do you think about the news in 1 hour should we sell in 1 hour how am I supposed to know this you have to You see like how the news comes out, we can ask the market processors, can we? Within one hour and after two hours of news,