Simple money management rule

Trading Discussion
1

placing stop loss/take profit … thats it … any traders like to add … please feel free :slight_smile: …

2

You probably want to be sure that your profits outweigh your loses on those orders.

3

Ok then you agree … you didnt add any …

4

Surely you’ve got to consider risk of the account as a whole as well? So 2% a trade for example. Then then SL & TP.

5

3 keys to successful trading are:

  1. Strategy
    You must have a proven set of rules to tell you when to enter, when to exit and when to stay out of the market.

  2. Money Management
    You must practice proper money management by controlling your risk. Great traders do not risk more than 3% of their capital per trade.

  3. State of Mind
    You must be disciplined and not let emotions rule you when it comes to trading. In order to do so, one of the most effective ways that I know is to have a trading plan and follow it diligently.

Looks simple but not everyone is discipline to accomplish that.

6

Good points … you have to have a plan based on a coherent strategy that have been tested by you … and stick to it … thats one important point should be take in seriously …

7

Agreed about supposed simplicity. For me the 3rd point is the hardest one.

9

What do you mean ? :30:

10

i know that money management rule is very hard. But you have said that it is very easy. Is it right. Are you sure on you view. If you sure, please share about your notion to us. If you share we may be it will be helpful to us.

11

If your asking me well iam still learning … but as i mentioned place a 20 pip take profit on any position … on the other hand place a stop loss order … and make it less pips … 10 for example … but thats not it … dont take it as simple as that … I have also mentioned above if any traders would like to add … that would be great for both of us

12

trail stop that position would be even better … my opinion though … also as you have posted (money management rule is very hard ) I do agree totally … so keep searching and learning … because this the most if not the only important rule in profitable trading

13

Just learn to tolerate the pain of losing money and traderture will do the rest.

14

If yors capital is 100usd, then you can risk only 3USD per trade?