What is your risk management plan?

[elena sarkees]

a good risk management plan is to trade with 2.5 % of your total balance if you want to risk a bit you can go up to 5 % this is a good plan follow it and you will like it

 

[EuroTrader]

a good risk management plan is to trade with 2.5 % of your total balance if you want to risk a bit you can go up to 5 % this is a good plan follow it and you will like it

It will happen that we have too much risks in our trades so if we are able to reduce them then it will only give us a better advantage and thus the income potential will increase of us in the coming times

 

[iMusingKiMi]

Of course, brother. It is still quite common among traders. I also have experienced, but still striving for success. Until now I still continue to strive for success in trading. Start up capital of small and continue to strive in order to reap a profit of millions of USD.

Believe me, looking for millions in trading is not difficult, but with right method and right way. You will never worry about capital when you possess the right way.

 

[EURUSD]

a good risk management plan is to trade with 2.5 % of your total balance if you want to risk a bit you can go up to 5 % this is a good plan follow it and you will like it

Different trader has different point of view about how many percentage of equity to risk in each transaction, and general rule as I know, it's safe enough to risk below than 5% in each transaction. But there are some traders who like to risk high in order to gain high return soon, but you must know the risk before doing that so you won't regret your decision and you won't blame forex, strategy or anything when the result didn't same with your expectation.

 

[arigoldman]

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

 

[EuroTrader]

Believe me, looking for millions in trading is not difficult, but with right method and right way. You will never worry about capital when you possess the right way.

If we are having more trading funds with us then we would be able to use them wisely and this will also allow us to get more income thru our trades

 

[iMusingKiMi]

If we are having more trading funds with us then we would be able to use them wisely and this will also allow us to get more income thru our trades

I agree this but it doesn't mean you can't growth it even with small account. Large account and small account actually have no different at all when you have a consistent profitable strategy. Many people mistakenly thought they can do well in a large account, but actually they are giving themselves an excuse with the failure.

 

[EuroTrader]

I agree this but it doesn't mean you can't growth it even with small account. Large account and small account actually have no different at all when you have a consistent profitable strategy. Many people mistakenly thought they can do well in a large account, but actually they are giving themselves an excuse with the failure.

Yes, it is true that we have to learn from our trading failures and only when we would be vigilant then we can get a good income in this business

 

[GlennR]

Cut losses early, let profits run.

I recently read a thread about Swing Trading on Babypips by Mastergunner99. It made a lot of sense to me, so I have been demoing his methods.

His main method is to trade lots of different pairs at the same time. He uses price action without any indicators, and uses the closing candle on the daily charts to determine how to trade.

I'm new & decided to use the weekly charts to find trends, then use the daily closing candle to confirm the direction. My FXCM demo only allows me to follow 20 pairs, but MG99 follows 28. Anyway, I bought 1 micro of about 10 different pairs on a $2000 demo. I've been watching them and closing the obvious losers. I've closed about 4, and reopend a few that I realized I'd chosen the wrong direction on.
So far it's doing quite well.

My point is that it's quite easy to close the obvious losers from a list of winners. So, if you are trading a lot of pairs at the same time, in smaller lots, it's pretty easy to do.

As I said, I'm pretty new, so we'll see how it works over time.

 

[Jason Rogers]

My FXCM demo only allows me to follow 20 pairs, but MG99 follows 28.

Hi Glenn,

While the FXCM demo limits you to viewing 20 pairs at one time, it's possible to view more on a live FXCM account. Clients who want to see more pairs can email a request to our Operations department to have the 20-pair limit removed on their live account.