Hello, my friend was going on, this is Emmanuel Adegbola a.k.a forex apostle. I want to welcome you to this video. And of course today we’ll be looking into Warren buffet two golden rules. I mean there are these two basic rules that the legend investor himself, you know, Warren Buffet live by.
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So welcome back my friend. So now we’re going to be looking into Warren Buffet’s two rules for forex traders two rules.
The rule number one – never lose money or don’t lose money. That is the old, I mean the end goal. What you are trying to do. As a forex trader I said you don’t want to lose your money. I see a lot of people coming into forex, they burn out their account. It happen to me. My first six accounts, I burnt them all. Okay, boom, boom, boom. But you’re don’t want to repeat that. Many people have burnt their account too. That’s why it’s important to take your time to learn forex trading. Don’t just gamble. Forex trading is not gambling. Yes, I’ve said that over and over and over.
Okay Yes, we take what is called calculated risk. That is exactly what we deal with. Warren Buffett says that the risk is doing what do I have no clue about. So in Forex trading, yes, we think risk, but at the same time, we calculated the risk if I know, okay, I’m risking $10 and by getting $20 that is my risk reward ratio in that particular trade would be one to two. So if the market goes in my favor, I’d make $20 if the market goes against me, I lose $10 now I don’t close my trade. I was chatting with a friend, sometimes ago, one of my trade went as low as minus $10,000. He said, hold on, close these. I said, no, I don’t close my trade and that is why I hedge. I hedge the market and we’ll be talking about that.
So Warren buffet first rule for you as a trader is to never, ever, ever lose money. And rule number two, do no forget about one. Okay, that’s it. the rule number two, don’t forget the rule number one. In everything you do before you, place that trade, look at it very well. Am I going to win this trade or will it go against me. Okay. I hope you would get that nugget there, my friend. If you have not subscribe to this channel. Make sure you go ahead. Hit the button below, like this video, share this video with your friend and leave your comment and I hope you will be that winner of pro version tradermatic software on Monday. Okay, so I will see it tomorrow.
