UltimaMarkets' beginner guide is generally good, but some details are a bit taken for granted. My cousin, a new trader, was following the tutorial to set a stop-loss, but the default setting was 5%. She used it without careful consideration and ended up losing a lot on her first trade. Later, I realized the tutorial didn't mention that beginners should adjust their stop-loss percentages based on the instrument—3% for forex might be appropriate, while 5% for crude oil might be. This "conventional" approach can easily lead to pitfalls.
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UltimaMarkets' beginner guide is generally good, but some details are a bit taken for granted. My cousin, a new trader, was following the tutorial to set a stop-loss, but the default setting was 5%. She used it without careful consideration and ended up losing a lot on her first trade. Later, I realized the tutorial didn't mention that beginners should adjust their stop-loss percentages based on the instrument—3% for forex might be appropriate, while 5% for crude oil might be. This "conventional" approach can easily lead to pitfalls.
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