If you are losing money while the market has been offering easy trading opportunities in the past few days, stop and think about it, one of these reasons may be behind your loss:
1. Going against the trend: Trying to go against the market instead of going with it.
2. Lack of plan: Trading without knowledge, buying currencies for fear of missing out (FOMO) or selling short believing that the market has gone up too much.
3. Greed: Wanting to make big profits quickly using high leverage.
4. Desire to compensate: You lost money and want to get it back as soon as possible.
5. Overtrading: You made a profit, but you keep looking for more until you lose everything.
If these are your problems, here is the solution:
Avoid high leverage, and it is better not to use it at all.
Don’t chase green or red candles without a plan.
Don’t open a trade without a clear and justified reason.
Take a break if you are not sure what you are doing.
The most important thing is to trade with a clear plan, and if you are not ready, stop until you know the next step. Trading requires knowledge and experience, at least in the basics.