hey community. been seeing a surge of new forex traders over at the koala’s website. If you are new to forex trading, here’s a few tips coming from someone who had 3 margin calls -.-
forex is not a get rich fast wonder. Expecting $100 to double to $200 in a month is not sustainable. This kind of result is WAY better than Warren Buffett. You sure?
proper money management is crucial. the forex market is full of surprises. sentiment changes, knee jerk reactions, crazy whip saws . . you can expect to be taken out of position often. If you are risking 20% of your account balance in your first trade, a failure will require you a 25% performance to get back to break even.
there is NO way to predict forex price action with 100% accuracy. Any super secret precision multi dimensional inter space a.i organic non gmo forex trading guarantee system is a myth.
may the pips be with you