Top Causes Unexpected Lead to “ Burning Account “
Account firing usually comes from mistakes in capital management as well as psychology. These mistakes are due to your intent. But sometimes, trading accounts bear huge losses just because the cause is very “nonsense”, unexpected.
1. Enter the wrong number when ordering
In order to balance and make the account of the fire will cause the trader to fall into the situation of crying confused. Because this is a very silly incident. All the steps are very good, but the input stage (the easiest land) is wrong.
Always keep the highest concentration when trade. Do not trade while you are working or entertaining. All distractions will cost you nothing.
2. Enter the wrong currency pair
The second cause is not much different than the first cause. It is also careless because of lack of concentration. You analyze the currency pair A but re-order the currency pair B. Of course, if there is SL, it is difficult to burn in a trade. But imagine this misunderstanding becoming a habit, what would it be?
3. Forget to SL
You trade news, and it looks like the market is supporting you. You enter a command and “forget” put SL and then work another wait for results. As a result, you lose money in your account.
SL is a mandatory order that all traders must have. Some newbies are often subject to this, they claim that manual cutting is okay, to avoid the case of SL price and turn around as expected.
No, do not do that. You will never know where the market really goes. Simply because the market is a combination of randomness. So let things work automatically with SL, do not try to interfere with it, let SL do its job is to protect your account.
Happy Trading
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