Quote from: Yamifoud on October 26, 2023, 10:05:45 PM

Quote from: Fivestar4everMVP on October 25, 2023, 02:54:11 PM

it is very important to be most careful while day trading when volatility is high, just as it has been in a few days now, this is specially for those who trade the futures market, trading futures is 10x more risky than trading spot, in futures trading, a simple miscalculation or failure to use proper risk management could lead to you being liquidated and all the money invested gone in a twinkle of an eye.

Best to avoid trading futures in times like this, but if you must, make sure you know what you are doing, and use proper risk management like the stop loss and take profit features, also ensure you are only trading with an amount of money you can afford to lose, and remember not to put all your eggs in one basket.

That is how important to know our capabilities as many traders underestimate the volatility of the market and then try futures trading not knowing how risky it is especially for newcomers. Many of us have been taught that Futures trading is more profitable compared to spot trading and that brings to our attention and courage to choose this one until they realize that it was not. Our common mistake is that we easily believe those people saying this without reading feedback from other traders who tried this. Even though some of them will say that they become successful but it doesn't mean that we can be like them.

Knowledge will indeed be very important before we start trading because without having good knowledge we will lose the money we use to trade. To be able to make a profit in trading, we have to understand the trade we are doing well, don't just hear from people that it is very easy to make a profit from trading, so we try it straight away, of course this will make us unable to avoid the losses that we will incur in trading, we cannot possibly trade to make a profit without understanding it well, so it is very important to learn it first before trading.