Mistakes you need to avoid when starting a financial market trading business
When starting a financial market trading business, the main mission is to make profit. In a perfect world, all traders will be successful and walk away with huge mounds of profit every day. But some of the top financial advisors at Jones Mutual can confirm that the world of trading is far away from perfect. In fact, there are a number of mistakes traders keep making, thus causing them to lose capital and potentially their entire financial market trading business. With that in mind, what are these mistakes and how can traders avoid them to actually make a success of their money-making ventures?
Entering a trade without a stop-loss
You need to set a stop-loss for every forex trade made on your trading account. A stop-loss is a counterbalancing request that will automatically exit a trade if the value moves downward by a particular sum. Having this guarantees that you escape a trade that will make you lose profit. If the market pricedidn’t move in the direction you expected it to go,you should see no valid reason to stay in the unprofitable trade. Cut your loss and proceed to the following trading opportunity.
The stop-loss is set at an area …