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Money Management Systems.

TRezin
Oct 14 2020 at 15:18
3 postów
All,

Do any of you know where to find different money management methods/systems for trading accounts. Have looked in the search in the community but can't seem to find anything.

Thanks
TRez

AliaDare
Oct 15 2020 at 00:38
762 postów
Money management is the backbone of trading. By money management, I mean to include every trade in the plan. No more than a 2% risk can be taken for each trade. If your balance is 1000, then you can trade at 10 cents, which means 1 cent for every 100. If the profit is like 20 pips, you have to bring stop loss at the entry point.

Dictiony
Oct 15 2020 at 01:30
231 postów
You can learn about money management systems by watching different videos available on youtube.

TRezin
Oct 15 2020 at 09:22
3 postów
Thanks for the info on the risk level. I was wondering more about an equity strategy to control losses/drawdowns.

Aqissiaq
Oct 15 2020 at 10:46
11 postów
I think it is best to stick to the 1-2% suggested by @AliaDare but to manually calculate everything. This will give you a much better feel and understanding of the risk and what it means

TRezin
Oct 15 2020 at 15:32
3 postów
Hi Aqissiaq & AliaDare and thanks again for the feedback.

I think you are only thinking of the trading side of things that I fully understand after trading for a number of years. However, what I am asking is more about how to manage your account system. For example adding in a system that stops you trading after you hit 50% of your previous days losses or reducing your trading risk after 1, 2 or 3 losing trades.

This is a big part in forex trading and is what moved me forward from a break even trader in forex. What I am trying to find out is what other methods or systems are people using in this area.

Thanks

UweMoench
Oct 18 2020 at 13:41
737 postów
Money management is very important for trading. Don't risk more than 2% in a trade. Also I prefer not to open multiple trades at a time. If you open two trades at a time it would be 4% which is not good. Survival in the market is the first skill we should achieve.

SofieAndreasen
Nov 09 2020 at 16:19
734 postów
UweMoench posted:
Money management is very important for trading. Don't risk more than 2% in a trade. Also I prefer not to open multiple trades at a time. If you open two trades at a time it would be 4% which is not good. Survival in the market is the first skill we should achieve.

However, sometime I also open 2 or 3 trade in single day if I find good and potential trade. But I adjust my SL into my risk ratio what I set for per trade.

AniLorak
Nov 12 2020 at 10:05
920 postów
risk is everywhere in Forex its a very common thing , there is no one who can deny but if you have proper money and risk management then within a very short time you can bring good amount of profit from here.  

DoraWalletInvest
Nov 12 2020 at 17:10
123 postów
I agree that 1-2% to risk is a good rule of thumb.

EbonyJones
Nov 21 2020 at 19:45
232 postów
Money management system is the most important system in the forex market.

Cordawield
Nov 22 2020 at 07:59
65 postów
Knowledge and skills to manage your capital can save us from irreparable and uninhabited mistakes.

AniLorak
Nov 24 2020 at 12:52
920 postów
practice is important and for that demo is a good choice , but i dont like this, i always try to maintain live account with minor balance . its supportive to acquire live knowledge and experience.

LeviSievwright5
Nov 25 2020 at 05:24
298 postów
It is not possible to succeed in trading without following money management. If a trader wants to achieve trading success, he must follow Money Management.

PercymcDonnell54
Nov 27 2020 at 04:58
23 postów
Money management and risk management are the two most important skills that I have learnt over the years of my trading experience.

mikehussy332
Dec 09 2020 at 08:30
21 postów
I agree. If you are good at money management and risk management, you can avoid potential losses.

https://www.myfxbook.com/community/new-traders/new-trader-here-can-we/2486988,1Well, I am not sure about it because most brokers I know let you deposit and withdraw in the same currency.

Kylealker87
Jan 04 2021 at 04:56
34 postów
Successful money management is very important when it comes to forex trading. Every trader should work hard on it for their own good.

Duktilar
Jan 04 2021 at 09:58
112 postów
Another important point is the ability to take into account all the small details that are necessary for money management.

Cordawield
Jan 10 2021 at 17:05
65 postów
It is worth noting that money management is a very voluminous concept, but in the context of Forex trading, it boils down to several basic methods. They are quite easy to use and allow you to limit losses.

GeorgeBischof
Jan 10 2021 at 19:39
318 postów
If you want to make money from this market, you need to have proper knowledge about forex trading. Without proper knowledge you can face a huge lose in this market. So, gather knowledge properly and then try to earn money from this market.

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