The Euro / USD had a spike up yesterday.

Many folks received a call from Margin.

MARGIN CALL is a terrible thing to happen. Your ego is gone. It hurts. Worst, your money is gone. Why do spikes happen?

An unexpected news / economic result triggering massive orders of the same type
Markets opening and closing. Hence traders are getting into or out of their positions
“Intervention” from big institutions
Unknown reasons

In short, spikes can happen anytime anywhere. If you are on the wrong side of it, good luck!

Yet with this knowledge, many folks trade without stop loss. I was one of them previously. I had seen my profits of 3k go to $100 within an hour. So much for clearing my debts!

A STOP LOSS may save your account.

Trading is never about gambling. Experienced traders will tell you that you need a plan. What price to take profit and what price to stop loss.

View this post for forex market timings.

Trade carefully. A profit of 100% 200% 300% sounds good. A loss of 100% and that’s the end of the game.

Geek

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Spikes? Forex Market timings? News? No stop loss? MARGIN CALL

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