Things like knowing about stop-loss strategies and how much to risk are crucial,” he says. “Another mistake is focusing on trading too many currency pairs. It is difficult to trade successfully if you are trying to trade too many when you are starting out. We teach our clients about fundamental and technical analysis and market sentiment. You need to understand the key drivers in both countries of the pairs you are trading.
I just lost 100 pips overnight on a GBP/USD trade going Long that in fact went south (Short).