Trading lessons I learnt from my broken tap By Chinedu Onuoha

For the past 8 years(of 12), I had thought myself a good trader. I could predict price direction pretty well. For some reasons (which I only recently realized) I could not make consistent profit trading a live account. I could so well predict price direction and was right more than 70% of the time (that is without actually taking the real trades, just observing). I would feel invincible after long observations and decide to try my prediction with real money. The day I fund my live account will be the day all the demons in my village will gather to make sure I lost ( or so I thought). Everything will just go wrong and all my forecasting prowess will seem ineffective all of a sudden. The day I withdraw my funds, everything will be back to normal ( so I thought). I nearly lost faith in trading but I was very convinced within me that there has to be a way out. Insight came from the most unlikely place - the tap in my bedroom. I noticed that the tap when locked still drops water. Very little drops but over night fills the bucket placed under it and even overflows. JACKPOT. The saying "little drops of water makes a mighty ocean" made sense to me as soon as I noticed this. I now trade with very small volumes and overtime the money grows(slowly but steadily). It was all my emotions (not the demons from my village). The loses are so small as a result of my very low risk and the profit steady. I can confidently predict the market knowing that my risk is very small and the worst that can happen is only very insignificant drawdowns. It was my GREED all along, it created uncertainties. I was so sure of my strategies that I would engage high volumes only to panic when I shouldn't. It was as if I was monitored by am unknown force, always ready to make me loss. A broken tap taught me that the fastest way to success is slowly. SLOW IS SMOOTH AND SMOOTH IS FAST. Below is my recent realtime performance.
https://www.mql5.com/en/signals/361611

You can contact me for one on one Skype training and managed account services.
Skype ID: Profedu2001
Email: [email protected]

Regards.
Chinedu Onuoha

https://www.mql5.com/en/signals/361611

Equity curve below

This week I will be sharing a few details on my risk management approach. Risk management is king.

Have you ever wondered why majority of retail forex traders crash their live accounts within 90 days?

Do you know that most brokers benefit from your losses?

Do you want to learn how to avoid brokers manipulations and become consistent?

If your answer is yes, then stay tuned to this thread.

So like I promised, I am going to share a few tips on risk management but before I proceed, I need to mention that I have worked with 4 forex brokers and in my last spell, I was in charge of the company's risk management. It may surprise you to know that risk management from a brokers point of view is not what you would expect as an average trader. It was my job to manage the brokers risk and the following things I will share are things that I learnt on my job, applied to my trading and I have been consistent ever since I made these discoveries (check my trade explorer).

I will only continue if I see interest, otherwise, no need to waste my time.