Our last tip on how to avoid a margin call is as follows.
It’s not uncommon to hear about new traders who are hit with a margin call and don’t know what the hell happened.
These traders are the types of traders who are just focused on how much money they can make.
And who don’t know what the hell they are doing.
And don’t fully understand the risks of trading.
Don’t be that trader.
Risk management should be your chief priority, not profits.
So there are five ways to help you avoid a margin call.
Pay attention to the currency pairs you are trading and their margin requirements.
Know when to cut your losses so you can trade another day.
Understand volatility and stay vigilant of news and events that could trigger price volatility spikes that could put your account at risk of a margin call.
Remember, as a trader, you should always prioritize risk management over profits.
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