Nov 23, 2016
Every Friday, I host a live Forex Trading Q&A on Facebook.
In this Q&A #5, I discussed reasons why traders blow up their accounts. This topic came up after I had multiple people reaching out to me, as they felt discouraged saying they blew up their trading accounts.
In the end, there are only 2 reasons this can happen:
As much as aspiring traders want a quick & easy solution, there's no need to complicate things here.
Create a plan, test it, and ensure you have a way to stay in the trading game (hint: not risking too much money on any trade).
A good way to put down your trading plan is with my One-Page Trading Plan Template (you can download it for free!).
The second topic covered in this Q&A is consistency.
Simply put, most struggling traders aren't consistent and focus solely on making money.
However, once you become consistent in trading, doors open to you. As a matter of fact, I was able to trade for investors and other people because I had that consistency
What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group!