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There’s a formula to calculate risk while trading: Divide the difference between the entry point and the stop loss order (risk) by the difference between the profit target and the entry point (reward). If the ratio is greater than 1, the risk is greater than the reward on the trade and vice-versa.

Never use a strategy just because it helps others in making money. Choose a strategy because you know how to use it and how you can make the most of the market with it.

Your trading career depends on the decisions you make. Be it choosing a broker, strategy, right time to enter and exit trades or taking a break from trading, all of this can have a great impact on your trading.

You must always take “time-out” from your computer especially when you are going through stressful trading sessions. Forex trading is a stressful job and it’s best to take breaks every now and then so that you can relax.

Oh yes, social media is surely a major reason behind people losing money. Traders believe that they will be able to make money easily because of the impressive advertisements. Traders who brag about their lavish lifestyle are often looking to fool new traders.