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.
“Dear @theforexguyKE, Thank you for all the help and assistance you are offering to Kenyan Forex Traders like myself. We appreciate. I have a small problem. Actually it is very big because I have just lost almost Twenty Thousand Shillings today trading. I have been trading on my Demo account for 6 months now and my results were stellar to say the least and I made maximum profits on almost every trade. When I started trading real money, however, I have made loss after loss after loss and I do not understand what is happening. Has my broker rigged my account? Is the data on the Demo account the same as the data in the Real accounts? And how comes I cannot make any profits on my Real account? Please reply. PS: I LOVE the Alpha and Omega Trading System. Keep it up!”
“Dear distraught Newbie, there is no need to get your pips in a knot! Here is the solution to all your problems 🙂