Forex Trading Tip : 1

[Ericjohnson456789]

If you are using an EA, I recommend that when your account balance reached 2x the initial deposit you made, you take our x. From there on you are playing with your profit and not your initial capital. No risk involved.

What do you think?

 

[Godwin Bupo]

If you are using an EA, I recommend that when your account balance reached 2x the initial deposit you made, you take our x. From there on you are playing with your profit and not your initial capital. No risk involved.

What do you think?

For me, i think it depends on how the EA is configured. If the EA is conservative and taking minimal risk, I think leaving the profit there to enhance more profits, is better than pulling out the profit. I'd say that the principal reason why many people blow their accounts is GREED. The push to get more and more even at risky ventures. so once a trader can be content with the little the EA produces and follows the installation instructions, I think such a person will be safe.

 

[Ericjohnson456789]

For me, i think it depends on how the EA is configured. If the EA is conservative and taking minimal risk, I think leaving the profit there to enhance more profits, is better than pulling out the profit. I'd say that the principal reason why many people blow their accounts is GREED. The push to get more and more even at risky ventures. so once a trader can be content with the little the EA produces and follows the installation instructions, I think such a person will be safe.

The reason i say that is no EA can work perfectly on market conditions. The EAs are coded to match some criteria and market does not always play on that coded criteria. The good EA can very easily turn to a bad one

 

[Sherverty]

Learn that it is a good thing to be confident. Mind you, I mean confident, not arrogant. It's good to trust your decisions, but those decisions must be made on the basis on what you see on the charts, not what you want the market to do.

 

[Godwin Bupo]

The reason i say that is no EA can work perfectly on market conditions. The EAs are coded to match some criteria and market does not always play on that coded criteria. The good EA can very easily turn to a bad one

Yes I think you are correct. I do not know these EAs are built, but I think that a good EA is one which considers what the worst case scenario can be. Also, using the correct timeframes and other settings is key to avoid blowing the account.