Futures traders Blows up
So, you’ve been studying the markets for two years now, you’ve read all the books, taken numerous home-study courses and even attended a trading seminar, your demo trading results seemed pretty good, then you went live and lost 50% of your account in two weeks. You decided to go back to the drawing board and learn a different system, because you figured it must be your trading system’s fault that you lost all that money so fast; you just need to find the ‘perfect’ trading system…
Sound familiar? For many traders, this story is all too familiar. The majority of the people who come into the markets end up blowing up their trading account at some point, and many traders blow it up multiple times. Trading can almost seem “rigged” at times, because it seems so easy and effortless when your demo trading or when you’re not in the market and you’re just observing. But, the minute you enter the market with real money it seems like the whole game changes and someone changes all the rules to keep you from making money. I know it seems that way, I’ve felt like this before too, every trader goes through the same trials and tribulations while learning how to trade successfully. Some give up, some never change and just continue losing money without trying to make a real change in their trading habits, and some traders push through to the other side and become consistently profitable. In today’s lesson, we are going to discuss how you can become one of the profitable traders and how you can stop blowing up your trading account.
The typical journey of a Forex trader…
There are different stages in the journey of learning how to trade the markets. The stages consist of approximately the same elements and traders tend to progress through these stages in a similar sequence. Some traders progress through each stage quickly whilst some get stuck in one stage for months or even years. Let’s take a look at the 6 general stages of a Forex trader…
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