Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

Skip to content
Home » My Top 20 Online Trading Currency Pitfalls (EMBARRASSING!) » Page 14

My Top 20 Online Trading Currency Pitfalls (EMBARRASSING!)

  • by

14: Not Aware of Forex News Events

Even if you are hard core 110% technical trader, you need to be aware of what’s going on in the fundamental realm.

I’m saying this because I’ve had one nasty trading incident that nearly wiped out my entire forex trading account within a few minutes. I was new to forex trading back then.

There was a major forex news release and I was in a buy trade. The news release had a major negative impact on the currency pair.

I had my stop loss in place but when the news came out, price jumped my stop loss. Instead of suffering a $200 loss if my stop loss order was activated, I suffered an almost $3,000 loss in just a few minutes.That was half of my forex trading account gone!

I nearly went mental! What the shit happened?

I just couldn’t figure it out. I googled  and then stumbled upon the news that caused that big price move that nearly wiped my entire trading account out.

Solution:

  • From that moment on, any time there is a trade setup forming, I make sure that no major news announcement are happening within a few minutes or hours  before I take a trade and I do that by using the forex factory calendar.
Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20