Small capital, big profit target.
As we know and see, the majority of the trading culture in the society in most countries does see trading as a way to make a profit. While the fact is that this is a pit of risk if you are not wise in controlling the risk.
Layer as long as there is a margin.
Our average trader, especially who are new to ‘business’, will use the layer technique as long as there is margin. If the zone is valid, they will keep putting layers. But in my opinion, it is better with 1 lot that is quite large and put it in the zone you want. It’s easier, right?
NO SL, Open TP.
This is the most favorite among our traders. I also practice the above BUT I will set how much capital I am willing to lose. If you put 100% capital in your trading that is in a ‘war account’ situation, you are already one step into the world of ‘wasting money’.
Profit but no WD or internal transfer.
To our traders who may have been in the trading world for 2-3 years or more, they usually reset their capital every day. They will practice ‘secure profit’. But most of our traders who are new tend to neglect and may not be exposed to information about ‘secure profit’.
So, the conclusion is that you should re-examine where we went wrong in trading. What is our trading style? What is our technique? how to control our emotions? What causes everything to be the cause of loss and continue to issue the opinion that trading is an industry that we should not engage in. Think about it.
My opinion is simple. If you are sure, you continue. If in doubt, don’t bet on luck or it’s easier to understand with the saying ‘gamble on luck’ and then gamble your capital.
What do you think guys? I want to hear your thoughts on this Please comment down below!
I respectfully disagree with the point that having no stop loss and only setting a take profit is a favorite approach among traders. While it may be practiced by some, it is generally considered risky and not advisable. Setting a stop loss helps protect capital and manage risk, which is a fundamental aspect of responsible trading. It is essential to have a comprehensive risk management strategy that includes both stop loss and take profit levels.
I am not sure about my trading knowledge!
But I think this is not a good advice!
How can you not set a SL while it is the most important aspect of risk management?
I’ll ask the other pro ones to come and say their opinion in this case! @ProfesorPips@Margaretwantstotrade@tommor@flamingoproxy
Could you clarify this one?!
he was explaining that doing this (not entering a stop-loss) is a common mistake that people make (at least, that’s my understanding from his title “Traders Culture Mistakes”)
(edited to add: @Worker_Bee replied just above while i was posting - we’re both saying the same thing )
Hello dear.
OH! thank you for mentioning me here.
Well, I did not check the forum in the last week and now I received an email from the forum, good felling! I think you just made my day!!!
As flamingo told you, it is just common mistake
Once again thank you.
yes that true. some newbie ready to gamble their fund for profit but for pro trader that not good more better have strategy and capital ready to loss not 100% to loss the capital
the idea of “Small capital, big profit” can be enticing, but it is important to approach it cautiously. Risk management and realistic expectations are necessary for successful forex trading.
The other name for this is gambling. Under no circumstances serious traders should try this approach because this is not trading, it is betting on luck, there can’t be any analysis behind it.
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