5 Forex Trading Mistakes That Cost Me N2m In 2019
by Okoli Gabriel Chudy
Lekki | Feb 1, 2021
Are you a Forex trader who is tired of losing money consistently no matter how deeply you think you have analyzed the market before entry?
Are you tired of paying for courses and books countless number of times with the hope of discovering that one ‘secret’, yet they teach the same thing you’ve heard over and again?
Truth is that if you are tired, welcome, because I was too.
I was hyped up and I signed up for a class like we all do where I learnt the trading fundamentals and flew to make money straightaway.
Well, the problem is that I didn’t make the big money as I expected.
This time frustrated, you can guess the next thing I did – I signed up for more courses, read more books and watched more videos tutorials.
That was how I went on till I lost over N 2m within 10 months, in 2019.
Kai, I was sad, angry and depressed for weeks.
What did I do wrong? How would I become like these ‘expert traders’ I hear about or is it all farce?
Well, thank God, I recovered money back within 5 months in 2020 by doing things differently.
It took me time and lots of trials and errors to lay my hands on the ‘secret’ approach. But I finally did.
But before I share what secrets I did to recover my money and become a better trader over all, let me share why I lost that amount of money in the first place.
Below are 5 of the major problems I had:
This is when you have a small account yet you keep using big lot size to trade because you want to make big money quick.If there is secret you must tell yourself about FOREX, it is that it’s not a get-rich-quick scheme.
2. Unfaithfulness to your proven strategy
Whether you prefer using technical analysis, fundamental or sentimental analysis, stick and master it.
Jumping from one strategy to another will affect your trade judgement and make you to lose money.
No dey confuse yourself.
You are eager or anxious to enter a trade even when all your conditions for entry have not been fully met.
If you do this, you will certainly lose your money.
4. Lack of Mentorship
It is very hard to be a lone ranger in this field.The best of the bests have someone they looked up to and still do. This will help you make money even when you haven’t mastered the system.
5. Trading Manually
Adhering to the rules is definitely the best way to minimize your loss, but you can save time and energy if you use a robot instead.
In my own case, I never thought a robot could predict the market better than I. But I was wrong.
I thought I was being smart anyways but in retrospect, I was simply dumb.At the beginning of 2020, I discovered I’ve accumulated over N2m in loss.
The loss jolted me into reality.
I had two options- give excuses, quit and go back to what I was doing before or find a solution and earn massively.
In my research, I discovered a trading bot that many people do not use.
With the trading robot, you can save yourself time and energy.
With RehobothFx trading software, I was able to bounce back and made over 3m at the end of last year in profit, trading Forex alone.
Even though I was hesitant initially, (the price was N400,000 as at that time), I reluctantly accepted to trade with it after I kept swinging between profit and loss.
More so, big corporations do not have humans sitting behind the screens monitoring signals.
So I want to give access to the same software.
All you just need to have the software configured into your trading software and instructed how to make use of it.
It’s that simple.
Now would you want to have better Forex trading experience?
Are you tired of consistent losses?
It might be small margin per time, but what happens when you aggregate the results over time?If your answer is yes, then click on the link below to chat with me on whatsapp
P.S: You will need to chat with me on Whatsapp to be put through, show you live evidences, before you make payments.