note: I use google translate
hello
what are the hallmarks of a good money management system? I have spent the last few days to learn forex, and I think it’s time to make a good money management system. from experience in my poker career so I’ve decided the first thing I do when I start with forex is to just make a good system.
I have thought to use OANDA precisely because you can buy units, not lot. I think the compounding effect is very important. I’ve made a little sketch how I’ve been thinking how the system should be designed.
I am a Swing Trader and I wonder if it is a good plan? I have not much knowledge of Excel, but I’ll try to put together a system of wondering if anyone would help me? Perhaps we here at Babypips could put together a common system, where you type in balance: a risk you are willing to take, and so on.
in my system, I have a capital of $ 10,000, has a risk of 1% and the risk assigned to five trade putting them at risk per trade of 0.20%. I intend to spend two months with that, learn the surface of forex. and then start a small live / demo account to test with real money so that I get the feeling. currently I use [-ForexPhantom-] Daily Crossover System.
I wonder how the leverage, should I have?
I will start from 10k for that is what I will put in when I start to trade for real in a few months. the balance is good or the risk is too small? I believe in the need to find a good balance between profit and risk, and it feels like there is little gain in my system, what do you think?
how do I calculate, we say that I have a profit of 20 pips per day on average, in a year? how do I excel in order to obtain a figure?
happy and fun trading
Pyromanzz
