Why around 90% Of new Forex Traders Lose All Their Money… some basic do's and don't of trading.
1) do not get into trading until you have either had some kind of training or researched it.
2) do not use any money you cannot afford to loose, or if you do not like loosing, as all traders even the best will loose some of the time, just like your favorite football team.
3) follow the crowd, that is to say do what the big banks and institutions do, back what they back, there is a reason why all animals herd together in nature, safety in numbers the same applies to trading, those big banks etc effectively control the market, what they say in terms of their weight in money invested goes over 70% of the time.
4) stay away from maverick brokers/traders claiming to make thousands every hour every day, fact is profits are mostly made over time, a week/month etc.
5) so why is it called TRADING, well the secret is in the name, a fact often overlooked by novice/new traders. the dictionary definition of TRADING is to buy and sell, yet having bought a stock/position the novice trader often does not sell, instead holding on to their purchase, in the belief that because it has risen a small amount it will rise a large amount, in short they are taken over by greed of making it big quick.
6) Leveraging is to simply support, or take action to be more financially secure. An example of leverage is to financially back up a trade
7) leverage your money, if you have invested £1000 and it goes up to £1060, sell, then reinvest a £1000, because of leveraging you will only be now risking 960, by repeating this process each time you will reduce your risk and increase your profits. you will also be actually TRADING
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