Learn to understand the big picture…which means, if you are trading off the 1hr chart, you need to be aware of what the bigger trend is in the 4hr chart or the daily chart.
If a newbie forex trader sees these kinds of charts and trading strategies, he would most likely believe he’s found the holy grail forex trading strategy. But suppose you take 5 trades for the day and you risk 5% each trade and all of them turn out losers, you’ve just lost 25% of your account in one day.
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