Hi Everyone,
I am certain that some of us have blown our account at one point or another during our Forex journey. If you have not, good for you.
Nonetheless, I'm setting this thread up so that our fellow traders can learn from this and not repeat our mistakes. No flaming please, let's be civil
1. No STOP LOSS (it has worked for me on a number of occasions i.e. stopped me out and then moved my way so I figured, hey why not let it run with no SL and hopefully it will retrace/reverse BUT trust me, that one that didn't go your way will blow your account).
2. Jumping in too early before the new hourly candle was formed.
3. Over trading (more than what my margin allows me).
These are my two top mistakes. I'm on demo now.
I am certain that some of us have blown our account at one point or another during our Forex journey. If you have not, good for you.
Nonetheless, I'm setting this thread up so that our fellow traders can learn from this and not repeat our mistakes. No flaming please, let's be civil

1. No STOP LOSS (it has worked for me on a number of occasions i.e. stopped me out and then moved my way so I figured, hey why not let it run with no SL and hopefully it will retrace/reverse BUT trust me, that one that didn't go your way will blow your account).
2. Jumping in too early before the new hourly candle was formed.
3. Over trading (more than what my margin allows me).
These are my two top mistakes. I'm on demo now.
May the Pips be with You
Let's Pimp some Pips!
