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cris224
Best traders: How to detect them?
in
General
Jan 18, 2013 at 19:11
Many people think of trading and especially trading Forex as an easy way of making money... Just find the right EA, the right system, the "GURU" to learn from, and then be a millionaire in few months.Well... successful trading takes a lot of work, dedication, perseverance, just like any other successful career. And the lessons one learns along the way cannot be put on a blog, in few phrases, or even in a book.So, I agree they "dont offer signals, coaching, EAs, PAMM etc" but not because they are the bad guys. It is not too much to share. They use simple systems, study a lot...
% of balance to open positions
in
Experienced Traders
Jan 18, 2013 at 14:36
It all depends on the system one uses. I know of a very successful trader that has a 30/70 win to loss ratio. I am taking about number of wins vs. number of losses here.The stoploss should be the last resort of getting out. I have few criteria of cutting my losses built in my system, and it gets me out before the stoploss is hit. So the 5% risk is actually conservative.... the average loss is around 2%.Trading is a losers game....Those who learn how to loose small, win in the long run.
% of balance to open positions
in
Experienced Traders
Dec 11, 2012 at 21:14
I think the risk level is a matter of your goals and your risk tolerance.I use 5% for now - The maximum I can loose in any one trade if my initial stoploss points are hit is 5%. But my account is still small and I can take this kind of risk.With a 100-200k account, I would reduce the risk to maybe 2%. This will still give me a good return.
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