Before you lose thousands of dollars, avoid these (10) mistakes which cost about (7) thousand dollars...
As I promised you, here are the heartfelt tips:
1/You must set a stop loss... even if it reaches 50%, it's better than ignoring it.
2/Do not make all your currencies rise or fall. You should diversify them and make most of them in the general direction of the market... for example, if the general market trend is upward, make 3 buys and 2 sells.
3/Never enter into too many trades... because you will lose control, and panic and confusion will begin. Try to stay within 2-5 only, especially as a beginner (your time in the market is less than a year).
4/Remove greed from your dictionary, and set your profit and loss in advance at a rate of (1:2) or (1.5-1).
5/Never analyze the market in an upward manner... because you will enter a deceptive illusion, but start from the weekly frame, then daily, then four hours, then one hour, then fifteen minutes.
6/If you enter a trade, never increase the leverage if the market moves in your favor... rather, collect your profits and exit, then re-enter. Because the market may reverse in moments, and you could lose all your money and will not be able to adjust the leverage.
7/Avoid (the highest profit) and (the most losing) currencies because they are bubbles that could wipe out your money.
8/Keep the leverage within small limits of 3-5x.
And if your experience begins to grow, raise it to 10x, and I do not advise you to ever increase it.
9/When a currency rises quickly, do not expect it to fall quickly, and vice versa.
10/Don't believe in the lows and highs and be deceived by them for buying or selling. Wait for the rebound after two or three candles, and do not invest all your money; averaging protects you.
And whoever has advice should add it and not withhold it from us.
