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TRezin
Oct 14 2020 at 15:18
3 โพสต์
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
788 โพสต์
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 โพสต์
You can learn about money management systems by watching different videos available on youtube.
TRezin
Oct 15 2020 at 09:22
3 โพสต์
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 โพสต์
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 โพสต์
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
751 โพสต์
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
759 โพสต์
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.
DoraWalletInvest
Nov 12 2020 at 17:10
123 โพสต์
I agree that 1-2% to risk is a good rule of thumb.
EbonyJones
Nov 21 2020 at 19:45
232 โพสต์
Money management system is the most important system in the forex market.
Cordawield
Nov 22 2020 at 07:59
65 โพสต์
Knowledge and skills to manage your capital can save us from irreparable and uninhabited mistakes.
LeviSievwright5
Nov 25 2020 at 05:24
298 โพสต์
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 โพสต์
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 โพสต์
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 โพสต์
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 โพสต์
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 โพสต์
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 โพสต์
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.
debramaldonado
Feb 08 2021 at 10:49
21 โพสต์
Money management is a very important aspect of trading and when it is paired with risk management, it can turn out to be really helpful for traders.
Molodicar
Feb 08 2021 at 11:13
7 โพสต์
What is the difference between money management and risk management?
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