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Money Management Systems.
Tham gia từ Jul 19, 2020
742bài viết
Oct 15, 2020 at 00:38
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.
Tham gia từ Apr 01, 2020
227bài viết
Oct 15, 2020 at 01:30
You can learn about money management systems by watching different videos available on youtube.
Tham gia từ Jul 23, 2019
11bài viết
Oct 15, 2020 at 10:46
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
Oct 15, 2020 at 15:32
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
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
Tham gia từ Jul 19, 2020
749bài viết
Oct 18, 2020 at 13:41
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.
Tham gia từ Jul 23, 2020
696bài viết
Nov 09, 2020 at 16:19
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.
Tham gia từ Aug 17, 2020
121bài viết
Nov 12, 2020 at 17:10
I agree that 1-2% to risk is a good rule of thumb.
Tham gia từ Jul 20, 2020
172bài viết
Nov 21, 2020 at 19:45
Money management system is the most important system in the forex market.
Tham gia từ Nov 03, 2020
63bài viết
Nov 22, 2020 at 07:59
Knowledge and skills to manage your capital can save us from irreparable and uninhabited mistakes.
Tham gia từ Jul 20, 2020
286bài viết
Nov 25, 2020 at 05:24
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.
Tham gia từ Nov 10, 2020
19bài viết
Nov 27, 2020 at 04:58
Money management and risk management are the two most important skills that I have learnt over the years of my trading experience.
Tham gia từ Nov 16, 2020
20bài viết
Dec 09, 2020 at 08:30
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.
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.
Tham gia từ May 24, 2020
102bài viết
Jan 04, 2021 at 09:58
Another important point is the ability to take into account all the small details that are necessary for money management.
Tham gia từ Nov 03, 2020
63bài viết
Jan 10, 2021 at 17:05
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.
Tham gia từ Jul 19, 2020
283bài viết
Jan 10, 2021 at 19:39
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.
Tham gia từ Jan 13, 2021
38bài viết
Feb 15, 2021 at 08:43
When trading small amounts, it should be remembered that your task is not to make money, but to learn how to trade, so you should not count on a large profit at first.
Tham gia từ Jul 19, 2020
749bài viết
Mar 13, 2021 at 13:21
We need risk management system so that we can minimize our risk. Without proper risk management it's not possible to survive in the market. We need a good winning percentage and a sustainable risk management policy.
