Accompany with WeTrade: How is risk control important?
"I would like to remind you to pay attention to the major economic news events that occurred from 16 October to 19 October. Such events with great economic and sociopolitical significance may cause severe market fluctuations." This is WeTrade, the broker, has updated an announcement on its official website. It is also a warning that many brokers will remind investors when market changes occur.
In life, we often encounter similar warning signs in relevant public places - "Prevent falling into the water", "Be careful of dangerous animals", and "Don't go out in typhoon weather". But as the saying goes, "those who know how to swim will be drowned" and "those who know how to play with electricity will be beaten to death." If you want to be the trendsetter of the times, you will end up being the one being played. This is the fate of most people.
In fact, the root cause is a lack of respect for nature and an insufficient assessment of risks. Although dangers and opportunities coexist, only by controlling the lower limit of danger can we have the opportunity to explore the upper limit of opportunity. The same is true for trading. 100% profit, or even 500% profit, will not be worth a big drawdown or liquidation in the end. The one-year trading competition held by the community uses a 30% drawdown as the bottom line to compete for long-term survival and profitability. The purpose is also the same. However, the competition lasted less than 4 months and only 35 of the hundreds of participating accounts survived. Risk control is so difficult.
The S13 FOLLOWME Contest organized by FOLLOWME and WeTrade has grandly kicked off. Adhering to the concept of "discovering outstanding traders and disseminating high-quality trading strategies", we hope that all contestants will be able to implement the spirit of risk control while showing their strength. Survive and achieve breakthrough results in the 3-month competition. Although the time is short, it is of great significance. To this end, WeTrade also supports participants and provides additional cash rewards, which is worth looking forward to.
According to relevant information inquiry and research, Wetrade’s brand strength is as follows:
Spread cost (USD/XAU, USD/EUR): ECN account is 1.0 for USD/XAU on average, 0.1 for USD/EUR on average
Average execution speed (ms): 200ms
Average disconnection frequency (number of times/day): Good connection
Disconnection recovery time (ms/time): Good connection
Average slippage and maximum slippage: Depending on market fluctuations, both positive and negative slippages exist
Deposit and withdrawal time: Deposits arrive immediately, and withdrawals arrive within 2-5 hours.
Inventory fee:
(USD/XAU) Buy - 31.74 points; sell - 9.92 points.
(USD/EUR) Buy - 6.4 points; sell - 0.74 points.
Account types: Standard account, VIP account, ECN account, Muslim interest-free account, Cent account
Regulatory situation: UK FCA, Malaysia Labuan LFSA, St. Vincent FSA
Finally, he who travels alone is fast, but those who travel in groups are far away. I hope that this competition will not only bring tangible rewards to everyone but also allow everyone to learn from each other. Also, understand or learn the trading abilities and concepts of outstanding traders so that they can go longer and further on the road of trading. Come on, everybody!
↓Swipe to view contest rewards↓
Use a WeTrade account to participate and enjoy multiple ranking rewards
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
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