Sunday, February 28, 2016

Another way to lose a million in currency trading

When I browsed through this article I discover it is the same old thing. Yet another way to lose a lot of money whilst trying to guide you away from losing a lot of money.

Many of the important lessons cannot be taught but must be caught. Additionally you need to personalize this for yourself as well i.e., nobody can teach you these bits. So what does it mean? You have to learn by failing at least a little. Controlling your losses and learning your lessons is the practical way to go. And for the vast majority of people the risk of huge, even catastrophic losses is never theoretical.

Someone left me a comment a few days ago if I do futures trading which he/she is doing full time. I can't find his comment now to reply. Well my approach is thematic and not product focused. As one cannot be equally familiar with all products there is considerable risk with this approach as well and usually the best way is to keep things simple. In other words I am not a day or technical trader.

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