EuropeFX Review Academy
While it seems that the life of a broker is all fun and games, in reality, it requires a great deal of hard work, dedication, and a lot of knowledge. That’s not the only misconception that’s riddling the field, though. Today, we take a look at some of the most commonly widespread and dangerous misconceptions of forex trading.
You Should Always Allow Your Winners to Run
There’s this one phrase that we tend to hear everywhere – cut your losers early and enable your winners to run. The truth is that this is a dangerous concept to live by. When you get in this particular mindset, you can easily find yourself in a position where profits become more and more scarce. Professional traders, like those at EuropeFX Review, move rapidly, seizing the moment when it’s due and never look back.
You Should Risk Only 2% of your Account Each Trade
It’s one of the most widespread rules, also known as the “2% rule.” While it might be able to prevent you from losing out, it can also prevent you from scoring massive wins. Having said this, it’s critical to ensure that you make the right decision based on the current situation, not on some pre-determined set of rules which may or may not apply at every given moment. Companies like EuropeFX Review can help.
Brokers are Trying to Scam You
Believe it or not, this is a biggie. A lot of people seem to believe that brokers are trying to rob you out of your cash. While there’s no denying that scammers exist, this is far from being the case in general. Remember, regulated brokers, like EuropeFX Review, are under the preview of top governmental watchdog agencies – one wrong move and they risk serious punishments, oftentimes even jail time.
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Great tips — thanks
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