Any forex traders here? I just blew up my live account for the 2nd time. Still trying to cope with the loss
ITT: General Forex discussions and psychology
where you bought at, price is already like 2 SDs from the average, so trying to sell there is literally burning money. it's going to be extremely hard for price to be 3 SDs below average, while it's easier for it to revert back to at the most 1 SD below average.
>not knowing how to read TA
Is it worth pursuing as a side source of income? Is it a system that can be beat for steady profits or is it basically gambling? I'm interested in learning about it to make some money on the side but I've seen that it is just a sucker gamble but I've also seen that people have made steady income from it. I'm willing to put in the time but I want to make sure I won't lose my ass
As with any financial instrument its all about risk management. Only invest what your happy to lose. Stop losses dont always work so you need to watch the market like a hawk while your position is open.
Finally learn your markets. You knew volatility was up you took the punt.
Learn but dont dwell on your loss and move on to the next opportunity.