eToro – Forex Trading Forum

[djsheckie]

Have more money than you know what to do with? Decided to take a vow of poverty? No matter what your reasons if you want to lose money forex trading then this is the guide for you.

Don’t Think Ahead

You’ll hear a lot about money management, stop losses, and take profits. Ignore all of this if you want to lose money fast. In fact by ignoring this advice you can probably empty your account in ten trades or less. If you set a stop loss point before you launch your trade and the trend happens to turn against you the stop loss will kick in and seriously put a damper on your potential losses.

[djsheckie]

You Don’t Need No Education

Avoid knowledge like the plague. Education will just indoctrinate you will all sorts of methods and habits that might actually make you lots and lots of money. Also, since the most successful traders are generally very well versed in the market it’s best if you remain as ignorant and unspoiled by information as possible lest you too start to make money. So, whatever you do don't read the Wall Street Journal, Financial Times or any of that nonsense. Also under no circumstances should you look at any sort of charts, or graphs as they might contain helpful information.

[djsheckie]

Be A Free Spirit

Whenever possible follow your gut instinct. In fact try to trade only when you’re feeling frustrated, tired, or better yet drunk. By trading when you’re not clear headed or calm you’ll be able to make irrational highly risky trades which should empty your account in no time at all. Also, they say quitters never win so don’t ever back down if you think you’re right about a trade. Often traders new to online forex will hold their position and just hope that the trend will reverse back in their favor, and that kind of wishful thinking is just what you need to reach your goal of losing as much money as possible.

So if you’re ready to lose more money than you ever dreamed possible simply follow these guidelines and you too can fail miserably at Forex.