Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24
Stock Market Breadth - 24th Mar 24
Stock Market Margin Debt Indicator - 24th Mar 24
It’s Easy to Scream Stocks Bubble! - 24th Mar 24
Stocks: What to Make of All This Insider Selling- 24th Mar 24
Money Supply Continues To Fall, Economy Worsens – Investors Don’t Care - 24th Mar 24
Get an Edge in the Crypto Market with Order Flow - 24th Mar 24
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

What to do if You Blow the Trading Account

InvestorEducation / Learn to Trade Jul 17, 2019 - 11:59 AM GMT

By: Sumeet_Manhas

InvestorEducation

Trading is one of the most lucrative professions in today’s world. Every day the number of an active currency trader is rising at an exponential rate. But still, the success rate is pretty low. The new traders in the United Kingdom don’t even know the associated risks involved in currency trading business. They simply fund their trading account and start trading the market with an average class broker. Eventually, they blow up their trading account and make their financial condition much worse.


You might be new to trading but if you know the proper things to do after blowing up the trading account, you will slowly become better at trading. Let’s dig deep.

Take a small break

The first thing that you need to do after blowing up your trading account is to take a short break. Being a human being, it’s normal to get emotional after losing some money. And it’s very hard for the rookie traders to control their emotions. Most of the time they end up by executing big lot trades and loses a significant portion of their investment. But if you take a small break you will never have such problems. You will have the time to think about the overall conditions of your loss. This will eventually help you to make a better decision in real life. On the contrary, if don’t take a break, the chances are very high you will fund your trading account and start taking excessive risk. The end result will be another big loss.

Educate yourself properly

One of the key reasons for blowing up your trading account is the lack of knowledge. You have to learn the details of your online trading platform because it will help you to find the very best trades. Never start to trade the market with real money unless you have extensive experience with the retail trading business. Always remember, knowledge is power when it comes to the investment business. It’s normal to blow the first trading account but if you fail to educate yourself properly you should never start to trade the real market. Open a demo account with an elite class broker like Saxo and try to create a simple trading strategy. Forget about EAs and bots and try to focus on a manual trading method since it will help you to find great trades.

Go for paid education

The best way to learn to trade is by seeking help from trained traders. New traders often think investing money on trading education is nothing but a waste. But in reality, this is the best thing you can do to avoid big loses in the future. The professional traders will give you clear guidelines to trade this market with an extreme level of precision. When you go for paid education, make sure the traders have in-depth knowledge about the trading profession. Ask him to show you his portfolio so that you know, you are getting help from the trusted person.

Train your mind

Controlling your emotions is one of the most difficult tasks. As a Forex trader, it’s very normal you get emotional and make stupid mistakes in life. If you learn to control your emotions you will not make the same mistake. Most of the time traders blow up their trading mistake due to overtrading and taking an emotional approach. Once you have complete control over your emotions, you will be trading the market with logic. So, work hard to develop your mental stability so that you can easily deal with any kind of market. Always think this as your business and try to reduce the risk exposure in each trade. Follow a proper trading routine so that you don’t have to make any silly mistakes. Never get addicted to this market as it will always bring bad consequences.

By Sumeet Manhas

This is a paid advertorial.

© 2019 Copyright Sumeet Manhas - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in