Chris, I know the volatile nature of this market. The market moves at random for sometimes not for at all times. Mostly this market follows its own trends. Have it. So, of course it is possible to keep cool mind when trading.
I have explained my point and not willing to contradict again. Itās okay and thank you much for reply.
Those who have a small deposit donāt make much money. Then again there are some traders who are good at boosting their deposits. But you need to be really good at it cause itās super risky.
Actually all about depends on trading experience. There is a very minor possibility to make much money by small deposit but sometimes advanced level trader can do that easily. And some traders who have much deposit but not capable to earn consistent profit. at the end of the day we can suppose Forex as a much volatile trading platform where is everything is possible as well impossible.
All is depend on knowledge and experience. If you have most powerful analyzing trading knowledge with long time experience then of course it is possible to get maximal result by small deposit. But knowledge and good experience cannot buy from anywhere. It has to be achieved by practicing more and more with great patience.
If you have most powerful trading strategy with accurate money management then of course it is possible to make sure more profit by small deposit. But practically most of the traders donāt know how to manage money accurately when using a strategy.
Your message is more appropriate for the traders who are particularly professional , they can to achieve it by long term experience . but I am a beginner and for me itās no possible.
You did wrong .some inevitable rules of trading is suitable for all kinds of traders even newcomers but its true senior trader can achieve their target very rapidly that beginners cant.
Money management is the foremost key to success in every profession even forex trading. there is nobody who can predict the real faction of this market with certainly. So, without money management we canāt survive for a long time. Actually managing money is a great skill to avoid potential and unfortunate risk. Itās a prediction when you calculate the market with certainly , but for that of course we have to practice more and more in demo. Otherwise our MM will not works when using trading strategy.
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Money managing is needed all time in particularly when using high leverage that always contains huge risk. if there is money management with accurate plan in spite of having much volatile situation it is possible to earn money rapidly by leverage. on the other hand , due to lack of MM you can lost your whole equity when trade with high leverage.
A fair comment in hindsight, but certainly not a bold rule to follow?
3 to 1 is common on paper and much much rarer in your P&L in reality, we both know that, at least concerning regular occurrences.
So to caveat your answer Iād certainly suggest that following the pencil rule of not risking more than you intend to end in profit with is a sound approach. The rest clearly comes with experience and totally depends on your own trading mentality and approach.
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A decent plan; thatās the procedure! Traders need to move here gradually according to their live trading experience.
Basically I donāt believe the demos experience, always like to gather live experience from trading, itās really supportive to be a knowledgeable trader rapidly even though sometimes causes a great losses.