I was sitting in my bed last night and I was thinking that a good way to prevent loses in forex is to find a way to limit or eliminate a few things from the game. Greed and fear.
Many will come and say that is a good thing to be greedy and its probably true but what do you do when this greed takes over and you start playing big lots. What is the solution when you get panicked and you start get in the game with more and more orders in order to save the others. I bet many of you went through this nightmare. I ve been there too...and I still am but with a difference. Now I m on demo. And I m still greedy, and I m still freaking out when I see orders turning against me.
So. About the limitation idea. What If we could limit the lot size and the lots opened simultaneously with a simple password. Would this thing make people stop blowing accounts. I m sure it would stop me blowing up the demo accounts and I m sure it would help me start controlling my emotions but is there anything like this for mt4? Is it possible to ask a broker to do this for an account?
Share ur thoughts about this. I have the feeling that I wont be the only one that would use such a tool.
Cheers
Many will come and say that is a good thing to be greedy and its probably true but what do you do when this greed takes over and you start playing big lots. What is the solution when you get panicked and you start get in the game with more and more orders in order to save the others. I bet many of you went through this nightmare. I ve been there too...and I still am but with a difference. Now I m on demo. And I m still greedy, and I m still freaking out when I see orders turning against me.
So. About the limitation idea. What If we could limit the lot size and the lots opened simultaneously with a simple password. Would this thing make people stop blowing accounts. I m sure it would stop me blowing up the demo accounts and I m sure it would help me start controlling my emotions but is there anything like this for mt4? Is it possible to ask a broker to do this for an account?
Share ur thoughts about this. I have the feeling that I wont be the only one that would use such a tool.
Cheers