Awareness #1- Trading The Big Dollar Moves

When trading, how does a trader know which move is going to be the big move.  They don’t.  Trying to catch the big trades alone to get rich quick is a destructive habit.  A trader should take all good signal trades. By doing this, they will make a lot of small wins and catch a big dollar move once in awhile.  Usually by trying to trade only the big moves a trader is tempted to put large numbers of lots on the trade. With the multiple lots on the expected big move the trade will go against the trader often enough to blow up the account.  Stick to your trading rules by starting out small then adding onto the trade if it is a good one.

This type of trading problem is that it has NO relationship or correlation to the ability to do this in a REAL trading account. We have seen traders make lots of money quickly just to see them lose it all.   They have not learned how to trade,  they were just lucky in catching a trend for a good run and not knowing when to determine that the trend will end.  They had not developed the money management skills to keep the money they just made.

Take all trades on a demo and treat them as if they were being traded in a live account.