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Bagaimana Cara Berhenti Kehilangan Semua Uang Anda dalam Trading Forex?
Forex trading is never easy, which is why many traders lose money in this market. Many new traders rush into this and try to make quick profits without preparation. This behavior can easily wipe out their capital. It is always recommended to start with a demo account to gain experience with this most volatile market.
Disclaimer: Forex trading carries a high level of risk and may not be suitable for all investors. It is important to fully understand the risks involved and seek professional advice before engaging in forex trading.
Let's put all these tricks, signals and gimmicks aside to discuss something more important in risk management which in most cases, is why you don't commit account hacking. Focusing on the elements you can truly control will take your trading journey even further. Beginner traders often ignore the following three risk aspects that can sabotage their trading.
1. Weak trading plan
The main reason for losing money as a beginner is generally due to a weak trading plan associated with improper use of leverage. Leverage is good. That's why traders love this game. However, without proper control it can cause quite large losses. For example, using 100:1 leverage on a $1,000 account means that just a 1% move in your position could wipe out your entire capital.
Another important element is setting appropriate stop-loss and take-profit orders. We, as humans, are emotional. And you can't be more emotional when holding a position and watching your trade succeed. This is a slippery slope. Traders often refuse to cut losses or take profits when they win. Ultimately, the market will show how cruel it can be. Also, don't be a trader who bets his farm on just one trade. Choosing the right position size that aligns with your risk tolerance is also key to ensuring you don't expose yourself.
2. Market Execution and Liquidity Risk
Sometimes your risk may have nothing to do with your trading plan. This can come from markets and liquidity that beginners may not be aware of.
Imagine you set a stop-loss order, for example, 1.2000 on a EURUSD trade. But due to higher volatility, your order is executed at 1.1970 – that's the slippage. There are also extreme cases such as gapping, where the price spikes and is immune to your stop-loss. Choose carefully when you trade and place limit orders correctly to minimize such risks.
Additionally, the quality of your broker's execution can have a significant impact on your trading results. Delays in order execution or poor price input can lead to missed opportunities and increased losses. Choose a broker with fast execution to minimize this risk.
3. External Factors
As a beginner, it is always advisable to pay attention to the market and what is happening around the world. Focusing solely on your charts and strategies cannot minimize risk in the long run. Be aware of external factors such as GDP, inflation, central bank policies, and geopolitical events. All the information can support your trading and help you prepare for potential big moves in the market.
Additionally, counterparty risk is easily overlooked by many beginners. Watching your broker having financial problems with your hard-earned money is probably the last thing you want to see. Finding a broker is one thing, but finding a reliable and consistent broker to safeguard your funds throughout the journey is another. Counterparty failure may result in loss of funds or inability to access the trading platform.
Disclaimer: Forex trading carries a high level of risk and may not be suitable for all investors. It is important to fully understand the risks involved and seek professional advice before engaging in forex trading.
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