What is your risk management plan?

[LoRio]

Adjust your trading to market conditions, don't create a fixed system, it's not gonna be applicable.

Exactly.
Think of your Risk:Reward in terms of Dollars not pips.
Adjust your lots to your SL / TP so that you make and you lose the same amount on all trades.

 

[EuroTrader]

Exactly.
Think of your Risk:Reward in terms of Dollars not pips.
Adjust your lots to your SL / TP so that you make and you lose the same amount on all trades.

We need to think and then try to balance the Risks and rewards in our trading so that in the time to come we will become more successful in the business

 

[Froso@FXNET]

I have a fix dollar amount that I adjust and use on a particular trade. In this way I don't have to recalculate every time I need to enter a trade. I just simply adjust the lot size to adjust that fix dollar amount.

 

[tombf]

i try to improve my management plan .i take tp and sL 2:1 now i take 1:2

 

[Ken Smith]

Hi there. I would like to know and read some thoughts about your risk management plan so that I could improve mine. what do you think about using pips when thinking about risk:reward? And what do you think is the "perfect" risk management?

To manage my hazard I take after some stick money management rules. Initially I take after 2% cash management run the show. I never open trade with over 2% of my value. I don't trade ordinary. I just open trade when I get a decent trading set up as per my procedure.

 

[nahiyar]

It is really very challenging to know right risk management and risk taking. Up to 1%risk is enough for me. I am against to trade with 5% risk . Every trade is puzzle for you you may loose too. Then why we out our amount in such a big risk. As per our plan and working style we should trade at right time and trend when we are sure now it is possible to have good trading in market.

 

[Aubrey Aubrey]

I have no particular risk management plan for my trading business. I guess different trader has different planning for their risk management. Also the plan might vary from trader to trader. Also broker to broker the plan is different. The risk management plan for long term trader will surely not match with a scalper. I am scalper and I try to move even I get some pips of profit form the trade. As simple as it is.

 

[downtrend]

It is quite right decision to trade under 2% of risk. I also never use more than this amount in trading. Open positions should be remain between 1% to 2% risk value. One can make reasonable profit with this risk .Much risk is much danger if you are not at right market analysis . My management plan is to get safe and small amount of profit using least risk I can .

 

[bigdolly]

S/L to T/P ratio is 1:3 but sometimes I can put trailing stop loss if I see that caught a trend. But it happens rare because the price of mistake is high

 

[DonCarleone]

Well, I'm just an amateur and my strategy is very crude, e.i. I invest money I'm ready to never see again. Though to make it an investment, not gambling, I try to follow well-established patterns. JPY and gold tend to grow when smth goes wront in world economy, and so on...