Proper Money Management Discussions

Beginner Questions
21

Totally agree with this, hindsight is a wonderful thing, right :wink:

The important thing to remember is that you’re assuming a 100% win rate - again it just doesn’t happen.

Anyway, I get what you’re saying, I think we’ve all gone through this thought process many times when the good times are rolling.

22

No quite,

You can have a 50% win rate and come out at circ 12% for the month,

You can make more money selling tangible goods on ebay…

23

Well whichever option you go for, be it FX or Ebay I wish you luck.

Hit me up when you’ve hit 20% a month consistently, or find someone who has.

Edit: I’ve had 20%, even 30% months myself, but I know for a fact that its about being in the right place at the right time, luck on your side per se - it’s certainly not maintainable.

24

This is pretty good…

https://www.simpletrader.net/signal/7405/TickmillLN.html

25

To achieve a successful trading voyage here, a forex trader will necessitate efficient use of funds. Proper money management can actually help any trader to attain trading objectives so that a trader can make best use of his trading skills and expertise. A trader thereby should give due emphasize on the administration of funds.

26

never trade with money you cannot risk. a bigger account may give you the flexibility of trades … you can definitely still start small … just that you need to manage your expectations.

a profit of $2 for a single trade by a $100 account is actually a good trade!

27

how is everyone and their trading? doing good?

28

Certainly it is all relative to traders strategy and approach to capital management. I personally prefer to risk lower share of my invested capital. So, I fully agree with Trading801, that by risking 3% of your position would require relatively lower performance to get your full initial capital back

29

Wise words :). Yay to proper money management

30

Hey i wanted to drop by and do a pulse check on you babypippers . . how is your trading . .are you practicing your proper money management?

31

Just remember this:

Lose 50% of your capital and you need to gain 100% to break even. Lose 5% of your capital and you only need to gain 5.3%. Tell me which is more sustainable?

32

The US NFP was worse than expected. This brought a flight away from the US dollar. I am aware of a few traders who had a big lost due to excessive risk.

Proper money management is crucial for forex success. I previously had 3 margin calls so trust me when I say I am quite familiar with losing.

All the best for the new week ahead!