A lot of different traders, a few success stories and every once in a while some golden advice; I think that sums up forums. I have read some really good newbie tips, some I would give myself and some that had a different twist, but made perfect sense.
When it comes to trading, as long as you get the results you seek who cares how you do it. I wanted to ask what was the worst advice you read and which was totally wrong and misleading new traders?
Some may have a long list, but among the ones I can think of is that high leverage blows your account.
It is not true as leverage has nothing to do with your losses. The lack of risk management, absence of a solid trading strategy and the lack of key attributes such discipline and patience are to blame for your losses (there are more than that).
I look forward to what you guys have to add.
When it comes to trading, as long as you get the results you seek who cares how you do it. I wanted to ask what was the worst advice you read and which was totally wrong and misleading new traders?
Some may have a long list, but among the ones I can think of is that high leverage blows your account.
It is not true as leverage has nothing to do with your losses. The lack of risk management, absence of a solid trading strategy and the lack of key attributes such discipline and patience are to blame for your losses (there are more than that).
I look forward to what you guys have to add.
