money management HELP!

[rhodytrader]

Originally Posted by Airborne

Maybe someone can answer this. First how do you calculate the R-multiple when having 2 positions open about the same time. Example I use 1% risk and split the order in 1/2.? Do you count this as a separate trade?

If the two positions are part of one strategy, then you should come up with one joint R for the whole thing. If they are two seperate positions taken on the basis of different trading decisions, then split them and calculate seperate R's.

[tymen1]

To the Under18kid :

I am a little reluctant to post here - this will be the most unpopular post on this forum but I believe it must be said.

I believe that your difficulties are in you as a person and have nothing to do with forex.

Everyone has their weaknesses eg an alcoholic..........needs to stay away from alcohol - all their life

It seems to me that you have a major weakness in handling money - a weakness great enough to cripple you. I say this as a retired school teacher.

I believe (and I have given this advice to you before) that forex is definitely not for you. You are playing around with your weakness like an alcoholic fooling around with alcohol.

I have a weakness playing chess - I get very depressed when people consistantly beat me. So I stay away from playing the game.

This post contradicts everyone else's advice - but I believe I am correct.

The other person I know who can give you excellent counsel is Tonymand.

I know you will ignore this post - but you continue at your own peril.

[theunder18kid]

I traded the USD/JPY yesterday and sold it at 116.5, right now it is at 114.2 which means I'm up about 230 pips. today I entered two trads on GBP.USD and EUR/USD, I sold the GBP/USD and it is now profiting 40 pips and the EUR/USD is profiting about 20 pips. I will from now comment ONLY on money management ideas and also questions asked that are within the topic. I will ignore any comments made on me and also update my trades every friday. Thanks to everyone for their ideas and comments, some were useful and some weren't, special thanks to BK and Rhody for their ideas and wisdom. Btw BK I didn't get to get a micro account because my broker didn't allow it.

[theunder18kid]

Originally Posted by rhodytrader

If the two positions are part of one strategy, then you should come up with one joint R for the whole thing. If they are two seperate positions taken on the basis of different trading decisions, then split them and calculate seperate R's.

well so what if I saw three trading opputinities? As you know I only have 1k so if I risk 3%(30pips) on each trade doesn't that mean I will be risking 9% of my equity? wouldn't that be REALLY risky? thanks