​Six Ways to Ruin Your Account

WikiFX Strategies (16 Mar.) - To speculate on the market usually means hard-earned profits but easy-suffered losses. There are various ways ruining your account, which can be sorted into the following types:

1. Counter floating loss

It could cause most losses by putting traders in hopes of a reversal. Floating loss is the loss that traders can check on the record, which may be larger than expected. Many traders in the face of floating loss still hold an open position, expecting prices to bounce back. But the market always runs objectively.

2. Frequent stop-loss

The stop-loss is a must, but frequent operations should be avoided. You will have to keep stopping losses if you insist on trading against the trend. In this case, a heavy position will even blow up your account.

3. Add positions

When you make some earnings and have a floating profit, you might think: how much I would have earned if I had held a full position. You remember experts' suggestion of adding positions with the trend. Then you start taking the road to ruin.

4. Smart-aleck

Wisenheimers who like to predict the trend only trust in their own judgments. They usually end up with huge losses. Be in awe of the market.

5. Believe in experts

There are indeed masters in the market, but traders trying to make a fortune by doing nothing have given birth to fake ones.

6. Follow the news

These traders prefer joining in groups. They trade haphazardly by following others and end up losing in confusion. Don't trade blindly, but hold your own strategy.

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