Is there anyone willing to share their Money Management strategy?

cool😎

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My system should not work if you read the books but does.
Enter long in 1 account and short in the other. Set Limit orders w 3% of funds, 0,3% profit. No stops. Fade in after 200 pips or more loss. If no exit in sight TP on any trades in profit whenever it looks like the rebound is over. With whatever profit made on that, close a corresponding proportion of the most in debt trade. The aim is never to take a loss and to hedge out nasty losses. Contrary to what the anti hedgers will tell you, you can make money both long and short on the same currency and even on the same day. For every dollar loss you take that's 2 dollars you need to make a dollar, i.e difficult becomes bl oody difficult . My recent losses were due to iphone/human errors and buying instead of selling etc too early in morning. Right now I'm working with uncorrelated currencies to avoid all trades hitting the wall simultaneously, kind of working but each currency takes a bit of getting used to in terms of volatility, daily ranges etc. Make sure you can take a 2 or 3 000 pip hit without MC by having sufficient funds. Think on long timescales of years or months, not days or hours.

flyingfx posted:
    My system should not work if you read the books but does.
Enter long in 1 account and short in the other. Set Limit orders w 3% of funds, 0,3% profit. No stops. Fade in after 200 pips or more loss. If no exit in sight TP on any trades in profit whenever it looks like the rebound is over. With whatever profit made on that, close a corresponding proportion of the most in debt trade. The aim is never to take a loss and to hedge out nasty losses. Contrary to what the anti hedgers will tell you, you can make money both long and short on the same currency and even on the same day. For every dollar loss you take that's 2 dollars you need to make a dollar, i.e difficult becomes bl oody difficult . My recent losses were due to iphone/human errors and buying instead of selling etc too early in morning. Right now I'm working with uncorrelated currencies to avoid all trades hitting the wall simultaneously, kind of working but each currency takes a bit of getting used to in terms of volatility, daily ranges etc. Make sure you can take a 2 or 3 000 pip hit without MC by having sufficient funds. Think on long timescales of years or months, not days or hours.

ok

my take on money management is that if i just keep cramming it down the crapper...

i figure it's gotta plug up the toilet sooner or later.

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1. Everyone please do yourself a favor and stop setting some imaginary profit goals such as I have to make this and this much $$$ or %%% persecond-hour-day-week-year-whatever. Its pointless no one knows what the conditions will be in the next 5 minutes and you already know how much you will make in a year, at best its very funny.

2. All you can do is analyze the market based on what is happening NOW and make the best of it using an approach that suits your personality best, that includes your tolerances for SL and TP.

how true...
But in other hand if 100% a month is at least what you need to make a living, you need some target.. :P

pip2cash posted:
    Steve, are you sure do have low risk high gain in forex trading? If yes, please share with us.

Thanks in advance.

SIM

What Steve is saying,, low/risk high gain ie) 2 to1 3to1 4to1 trades risk to reword .
I will take any risk/investment,,, with a 3 to 1 +,,,,, risk to reword and if you pic your trades thats what you get..:)

STJ

Elkart posted:
    Read this. It's an excellent example of MM.

https://www.winnersedgetrading.com/nytime-money-management/


'This may sound a little complex but it’s really quite logical. If the strategy starts losing, then it tends to lose several in a row. If this starts happening, we back off quickly, by reducing risk by 1% for each loss. If we’re back into winning trades, we gradually increase our risk level up to 4%, which is still reasonably conservative considering we only get to that if we have 4 or more winning trades in a row.'

It means that you KNOW that your strategy will loose in a row, but you don't know the future, you're just guessing.

If you lower your position size during losing trades that's asymmetrical leverage that leads to LOWER but EXTENDED drawdowns.