Toby gives an account of a powerful factor behind currency trading that if used wisely is worthwhile, but if misused, can cause people to lose their trading accounts: leverage. Here’s the article:

The biggest enemy to most forex traders is not the market or their trading system but the use of leverage. When using too much of it, most of times it will take your account serious down, even with one single trade.

Last week, a new forex trader showed us his account statement and asked what he was doing wrong.

After taking a look into his account statement, we did notice the following:
Start balance: $25000
End balance: $2300
Numbers of trades: 7