Forex Stop-Loss Hunting

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Just like leprechauns and Big Foot, Stop-Loss hunting is the stuff of fairy tales and conspiracy theories with as many people believing it exists while many others think it is a pile of bull. Is your forex broker deliberately putting your account into losses? Are you being swindled? Are big investors tampering with the market to ensure small traders never make a dime trading forex? Let’s find out.

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10 Disadvantages of Trading Forex

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  1. You will grow sore boils on your buttocks and your eyes will burst into flames. Don’t joke with sitting down to watch charts the whole day. Don’t underestimate the patience required to wait for one candlestick to form over a 4 hour period. The tenacity of a forex trader is only comparable to that of a Pupa, or whatever that maggot waiting to become a butterfly is called. If you hear a friend of yours say, “That is so boring, it is like watching grass grow,” lean in and tell them, “Compare to what I do for a living, grass grows very fast. I kid you not!”
  1. Little children will think that you are a vampire. I don’t care whether you trade the Tokyo session nor that it opens at 1am Kenyan time. Immediately your neighbours start spotting a light in your bedroom that comes on every midnight rumours will start to germinate. Add to that the fact that you don’t come out of your house often because you are busy trading and your incontrollable yelling (again, in the middle of the night) when you score a 50 pip profit in 10 minutes, and boss, you are just throwing more grist into the rumour mill and very soon you will wake up to summons from your local assistant chief wanting to know why you bite peoples necks. Then yell. Uncontrollably. Weirdo.

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9 Reasons why Kenyan Forex Traders LOSE Money

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WARNING: This is a relatively lengthy article. But if it is an article aimed at helping you save your hard earned money, then it is definitely worth the read.

On an average month, I interact with hundreds, if not thousands, of Kenyan Forex Traders both physically and through my numerous social channels and most will complain of having lost money at one point or another while trading forex. I have discussed this extensively with my students and the following are the Top 9 reasons why Million shilling forex accounts go bust in the blink of an eye.

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How NOT to Trade

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Forex Trading is Dangerously Addictive. You only need to read “Reminiscence of a Stock Operator” by Edwin LeFevre to see how powerful this addiction is. Once you find your footing and learn how to make money by simply looking at charts, you get completely taken over by the markets and you consistently and incessantly – day and night – think about pips and charts. You sleep forex, you eat forex and you wake up in the middle of the night determined to make ‘just a couple of dollars’ before going back to bed.

World over, Forex traders are known to be disheveled, sleep deprived, shaggy and unkempt fellows. They drive expensive cars and own huge mansions, but at a personal level they seem to never have time for anything else apart from trading. They would much rather have a laptop next to their deathbeds than be surrounded by their loving family – assuming they ever made time to have one. Is this the life you want to live? Is this your dream-come-true? I don’t think so.

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3 Best Times to Trade Forex in Kenya

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You have clicked HERE and opened a free Brokers account with a Forex Trading Demo. You have clicked HERE and Downloaded the Alpha and Omega Forex Trading System and installed it on your MT4. You are now all set to start practicing on your Demo account and honing your newly found money making skills although you are now confounded with the all important question if WHAT IS THE BEST TIME TO TRADE FOREX in Kenya?

Over time, I have developed my own program and preferences and you can either copy my time-table or develop your own best trading times based on your own particular Daily Schedule and Commitments. Here is my 3 best times to trade;

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