IgorThorne
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3% max for me
We always come up with good conversationsYes, trading only one currency pair at a time will save your skin in more ways than one and gives you much more control of your trading account.
Cheers!
Sounds like a really good idea for RM.There are several ways you can look at risk management. Everybody will regurgitate the same 1-5% risk per trade tactics, however if you don't have all of your capital in the one account, then this rule doesn't need to apply.
At the end of the day, it's your money and you risk what ever you don't mind potentially loosing.
I have a low risk subaccount, medium and high.
My high risk account which I reserve for trades which I feel over 90% certain on and I go hard with the lot size on it. If it blows it's only 5-10% of my capital, but when they come good (9 out of 10), the rewards are sooo worth it
Thats a very realistic approach... I hope its followed by all the newbiesIt is not just to follow experts it depends on your own experience and capital what you are dealing in. If you follow experts and having not much capital to take that much risk you will not get benefit. So decide first on the base of our own practice than after some experience you can follow others. You can take 1% to 2 % risk but try to take as much less you can because it will save you from danger zone.
It is my first time entering into live forex, and before I jump into I wanted to know how much should a beginner risk in live trading to make consistent profits?