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My forex funds. "My forex funds" - how to properly distribute and manage?
14 June 2022, 10:30
![Andrey Kozak Andrey Kozak](https://c.mql5.com/avatar/2024/5/664893e0-2763.jpg)
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"My forex funds" - how to properly distribute and manage?
This is the most important question that every trader must find an answer to before starting Forex trading. Because your "forex funds" is the main goal in all trading. And when you build an automated or manual trading system, you must first develop the right money management system. The right trading strategy has its own rules. Let's list some of them.
- StopLoss in the trading strategy should be 3 times less than TakeProfit. This is considered the golden rule of trading. Every developer of trading systems tries to fulfill it. It protects against drawdowns and helps save "My forex funds".
- The lot size for each trade must be such that no more than 10% of the total deposit can be used. Ideally, this value should be no more than 5%.
- At one point in time, a trading operation must be opened. This way you can reduce the chance of losing money.
These are the basic rules for trading in the "My forex funds" category. If you follow these rules in your trading strategies, you will increase the likelihood of building a profitable trading strategy.