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Thread: Risk management

  1. #11
    Join Date
    Jul 2014
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    677
    I would say that it's always good to close your positions on time, regardless of your level of experience.

  2. #12
    Join Date
    Oct 2016
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    Quote Originally Posted by victoriajensen View Post
    I would say that it's always good to close your positions on time, regardless of your level of experience.
    Experienced traders are very much aware that since the markets are erratic, opening a position for too long can pose serious risks.

  3. #13
    Join Date
    Jan 2017
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    Quote Originally Posted by Jonnie Kash View Post
    Because risk is inherent in everything we do, one must handle Forex trade as a serious intellectual pursuit; that's only when you can succeed in trading. Traders’ failures can be explained almost exclusively by their poor money management practices. So to help ensure this success, practice money management.

    Of course, any false move can represent a considerable loss in trade. Knowing how to handle money and know the market at the expense of this career is the secret.

  4. #14
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    Oct 2016
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    Quote Originally Posted by fouclycm View Post
    Of course, any false move can represent a considerable loss in trade. Knowing how to handle money and know the market at the expense of this career is the secret.
    I agree completely with you. Profitable traders have reliable and well-organized money management plan, which is the secret to their success in this trade. In addition to their success is a well-developed strategy that helps minimize their risks in trading.

  5. #15
    Join Date
    Dec 2015
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    448
    Quote Originally Posted by Alex Cook View Post
    I agree completely with you. Profitable traders have reliable and well-organized money management plan, which is the secret to their success in this trade. In addition to their success is a well-developed strategy that helps minimize their risks in trading.
    They also have the experience, patience and discipline required to trade well. People often underestimate how important discipline is in this business.

  6. #16
    Join Date
    Mar 2017
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    17
    Hi, everyone! Can any body advice good books about risk management?
    Last edited by hafidfx; 03-16-2017 at 11:22 AM.

  7. #17
    Join Date
    Jul 2013
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    2,516
    Quote Originally Posted by hafidfx View Post
    Can any body advice good books about risk management?

    Books to try ...

    The Mathematics of Money Management: Risk Analysis Techniques for Traders Ralph Vince (we all need some reliable understanding of what's in this book, although not necessarily from this specific source, before trading with real money)

    Profitability & Systematic Trading (Michael Harris) (more introductory)

    Trade Your Way to Financial Freedom (Van K. Tharp) - an outstanding starting-point on the subject (quite introductory - much of the second part of the book deals with position-sizing, which is probably the most important past of risk management for any aspiring trader to understand)


    Books to avoid ...
    John Hull: Options, Futures and Other Derivatives
    John Hull: Risk Management and Financial Institutions
    David H. Romer - Advanced Macroeconomics
    (These are all very advanced, complicated postgraduate academic textbooks - they're of absolutely no relevance to aspiring retail traders at all. I mention them only because - astonishingly - I've seen them recommended here, not long ago, in another thread, and they're enough to put anyone off! ).

  8. #18
    Join Date
    Mar 2017
    Posts
    17
    Thank you very much for books list, especially for books to avoid I just tried second book and give up at the start, thats why decided to ask another

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