How to stop blowing up your trading account

To any trader, stop-outs and blowing up a trading account are part of trading. But for professional traders, the last thing they want is witnessing weeks of hard work go up in flames. That is why whenever they take a position, they want to ensure their account never drops to zero.

Stopouts don’t just happen–they happen for a reason.

Personally, I have blown up many trading accounts and over the years, learned how to ensure this never happens in any of my future trades.

If you are constantly being stopped out in a trade and looking for ways to overcome it, we have built a series of podcasts to help you beat this bad behavior. You can start with this post on the bad trading habits that cause most stop-outs or dive into the resources below and uncover why stop-outs don’t just happen.

Find the right prop firm and pass the challenge

Passing a prop firm challenge is hard, just like trading itself. There are rules to follow that many traders may find irrelevant/unnecessary. But if you look at them keenly, you will see that those rules help instill discipline in you as a trader and ensure success.

Having received funding from two different prop firms, I have learned that the secret to succeeding with prop firms is to set targets below what they have. For example, if the daily drawdown is 5%, have yours at <1%.

To learn more about succeeding with prop firms and challenges, check out these helpful resources on prop firms. Remember to join our Reddit community and get more insights on how to profit using prop firms.

Find the right expert advisor/copy trader

Learning to trade currencies is an endless journey calling for traders to dedicate thousands of hours to studying chart patterns, the effects of news on trades, fundamentals, and how a trade/asset behaves. Not everyone has that luxury of time, especially when you depend completely on your full-time job to pay your bills.

This is where copy traders come in. To help traders deprive of time to analyze charts and the market with signals they can use to earn from the market.

Even so, finding the right copy trader is no walk in the park. Many traders have lamented experiencing huge losses from unreliable copy traders.

The good news is that I am here to help. By sticking to this website or joining our Reddit group below, you will interact with true expert advisors like myself and others, who won’t just give you signals but also show you the steps you need to cut losses when using their signals. If that sounds good, join our Reddit group below and start earning from the Forex market.