The first time I was introduced to forex(fx).
I was enthusiastic about how easy it is to print money at home, sound familiar .and quit my job and never work under some again.
Especially you when click on YouTube and search
(How to trade forex) unfortunately enough the guru did not talk about stop loss and take profit in his video, he sticky jump into 50 EMA strategy telling you to buy!! when the green candle touch the blue 50EMA and sell!! when red candle touch the 50EMA.
And then you’re excited is very easy to make a lot of money at home.
You don’t have any knowledge about forex let say the only knowledge you have is how to deposit
your real money and how to withdrawal.
and then you deposit your school fee and ask your friend to loan you some money lucky for you rise $2,000 plus your salary.
No knowledge about lot side
No knowledge about risk management
The only knowledge you have at the point
Is to wait for the price to either hit the 50 EMA and sell or buy,
When the price touch the blue line you didn’t hesitate you click buy and you saw some number because you don’t have any idea what those are you just lick on 1 and that 1 is your lot side .
And you have $2,000 in your account five minutes
Later.
You saw your red -$1,500 unrealized pl🥺.
On your account, if you have encounter this unforgettable experience please let us know that we are not alone.
What will be your reaction for that day?
My reaction was as in the picture below