Markets are cyclic. There are some periods when they are wild, and people lose a lot of money during these periods. The US economy survived six recessions from 1973 to 2009, but some traders and investors earned enormous money. Does it mean you should stay away from the markets and stop trading? Or should you open new trades even more often? Forex trading has many dangers, even in quiet times, so if you can change your thinking and trading style, you should invest. Let's clarify why investing is important in a crisis.
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The best position sizing strategy varies for every trader, depending on risk management, experience, and trading style. Many traders, especially beginners, usually choose their position size randomly. In any case, it should be a maximum of a few percent of your deposit, as this will prevent the loss of money in a couple of trades. Actually, exact position sizing is beneficial, and it's easy to diversify the risks.
Have you ever wondered about your main target on Forex? Unfortunately, the eternal pursuit of money usually makes us take risks that sometimes can bring losses, so you need a consistently profitable trading strategy.
The size of your future income will most likely depend on the type of account you choose. Your choice should be mainly based on your knowledge level, trading experience, trading strategy, and the number of funds you are willing to invest in.
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