Money Managment Thoughts
A thought on money management.I know that money management is sort of like the key to the door of long term success of forex. It is mostly the reason I have failed in the past(I have taken time out of the market to reevaluate strategies, will return mid-late aug). So now I know that 1-3percent of ur total is recommended. So I wanted to get everyones idea of my MM strategy for the next live trading year. I plan to compound once a week of 10% or more preferably 12%(52 week= year). I usually trade in the longer time frames, but I'm traing on a scalping strat. Let's say I make 20 trades(scalping & longer swing/trend trades) in a week. At 65% win ratio can be profitable enuf(at 2% risk) to meet the 12% a week mark.Wat do you all think about the 12% compounded weekly MM strat.? I know all success depends on my abilities and but do u think this is realistic? Too high? Too low? Anyone wanna share their MM strat.
Pyramiding is a route to extinction.
Kind regards,
-Muhammad Azeem
Forex Forecast - Free Elliott Wave Analysis Newsletter
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Pyramiding is a route to extinction.
Not at all, in some situations its entirely the correct thing to do, in other cases its suicide.
If youre serious about MM and your not a coder, I'd strongly advise grabbing a copy of Market System Analyzer from adaptrade.
Pyramiding is a route to extinction. Kind regards, -Muhammad Azeem Forex Forecast - Free Elliott Wave Analysis Newsletter =====================================
What do you mean by pyramiding? Is that when you use open profitable trades to pay for your new trades? My way of trading is to let the SL. Or TP get hit most if not all trades. I don't plan to leave any open. By longterm I meant using the 1h 4h 1d timeframes for trades that don't last for more than a few days at most. Compounding is the only way I see to make a profit from forex. Especially using 1-3% risk.
So I'm confused to what you mean?
So compounding money every week wouldnt work because...? I don't get it. What is pyrimiding?
Maybe I wasn't clear, I simply want to compound my money weekly like most people do it monthly, even tho at higher percentage
I live close to Huntsville ,Al. It is full of defense contractors, the Redstone Arsenal, etc. I am interested in having a government job. Would I be better served with a major in human resource management or general management? Of course, I know H.R will often involve staffing,training, etc. But I definitely dont want a job in retail or anything like that. Which major is more versatile and will bring me better options? Which major will generate more income in the long run? My husband is wanting to take management of technology ,but not sure its for me. Isnt that dealing with a lot of technical computer stuff?? Just looking for thoughts. I know I am interested in a Business degree(but not Finance or Accounting) Give me your thoughts.
Thanks
do not use an open floating profit as your margin to make new trade. you might risk all your money and this is obviously against basic money management
Money management is an important part of trading where we use our amount in planned way we are conscious how much loss is possible so our prior efforts are to use money in a limit where we had a back up id trading is not in our favor. With money management low investment is used wisely and without it we can waste high amount .
Money management is very important to do by a trader. We should be able to determine how many lots that we will take, how much leverage we use, when to we have to buy and when to cell. It is all important to do. Without us knowing good money management, then trading we will have an even greater risk. And the most important thing in trading, we should not be greedy.
Money management in forex revolves about SL- being strict on stop losses.
Money Management is important to control the financial conditions to remain "survive" at the time of the threats and to achieve success when we gets a chance. Money Management is absolutely applied in every transaction because it can be used as a deciding factor. Without money management, maybe we will benefit in the short term, but not in the long run. Although our trading account has been insured in the stop out insurance, we still have to use good money management as well.
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A thought on money management.
I know that money management is sort of like the key to the door of long term success of forex. It is mostly the reason I have failed in the past(I have taken time out of the market to reevaluate strategies, will return mid-late aug). So now I know that 1-3percent of ur total is recommended. So I wanted to get everyones idea of my MM strategy for the next live trading year. I plan to compound once a week of 10% or more preferably 12%(52 week= year). I usually trade in the longer time frames, but I'm traing on a scalping strat. Let's say I make 20 trades(scalping & longer swing/trend trades) in a week. At 65% win ratio can be profitable enuf(at 2% risk) to meet the 12% a week mark.
Wat do you all think about the 12% compounded weekly MM strat.? I know all success depends on my abilities and but do u think this is realistic? Too high? Too low? Anyone wanna share their MM strat.