Let Market Tell You
Need help with 10M chart - got it already but need some help! 1 reply
Need help with how to manage risk 12 replies
Manage your Money 13 replies
Disliked{quote} Hi Motiram, 1) Number of pairs you choose to trade depends on your trading plan. For a trend follower, they trade all markets. Compare that with a day trader who only choose to focus on a few pairs. Let me know if that helps! fartistIgnored
Disliked{quote} 2) With regards to lot size, i find it is better to know how much you are risking per trade, how wide is your stops and only then decide how much size to put on for your trade. More information regarding position sizing can be found here.Ignored
Disliked{quote} 3) With regards to SL and TP , this depends on your trading plan once again. One way you can go about placing your stops is based on ATR. You can check out this video for further explanation. Let me know if that helps! fartistIgnored
DislikedIt s ok, except one point : you need to take into account your tradinc account base currency? an equity of 2000 USD is not the same that an equity of 2000 JPY. and 40Usd is not the same as 40 JPY when it comes to risking 2%. therfore 1 pip ina 2 lots trade on EUR/GBP has not the same value in %age if your account is lin USD, in EUR, JPY or AUSD. I suppose this calculation is made for USD base account. But if your account is not labelled in USD you will have to adjust.Ignored
DislikedAs you are writing that you are a newbie trade with 0.01 lots only. This way you can experience all the newbie things without killing your account in the first days. If your account is positive after a month increase your lotsize to 0.02 and trade for another month with that.Ignored
Disliked{quote} Thank you Slicktick also it is good guidance to increase the lot size after the account size has increased, I am trying to learn how to manage money can you guide me How can be calculated how much money to be needed to sell or buy for example 0.01 lot for different currencies pairs if leverage is 1:200 I am having hard time to calculate. Need help with formulas o any way to calculate Regards, MotiIgnored
I have learnt the hard way myself and am just slowly starting to build my account back up.
DislikedHello To All I have a very simple question for you experts, but for me it results very tuff to understand money management, I am a bit dump in mathematics. So for I need your guidance with practical examples may be in excel sheet in detailed, which could make my life easier to understand myself For example: I want to open a live account with amount of 2000€ how could I maintain the account as a newbe during the learning period not losing too much. And keeping account balanced Conditions: capital investment 2000€, if leverage is 1:200 1-how much...Ignored
Disliked{quote} Well, I could just give you a formula, but then you would find out that you could start trading with about 3 lots (which would kill your account in a few minutes)Ignored
Disliked{quote} Use 0.01 lots and you will not have to worry about that as your 2k account is well founded for this. Additonally you will still be able to trade next month.Ignored
Disliked{quote} You can use such a margin calculator: http://www.investing.com/forex-tools/margin-calculator Play with it if you want but after that still use 0.01 lot to begin your trading adventure.Ignored
DislikedAdjust your position size based upon your risk tolerance and also how many pips you are using for a stop loss. The below website is what I use to ensure that I risk the same amount every trade http://www.earnforex.com/position-size-calculatorIgnored
DislikedI use a fixed advantage of my entire account every trade. The advantages? Compounding when winning Account suitability when losing Good money management practice in generalIgnored
DislikedI have learnt the hard way myself and am just slowly starting to build my account back up.Ignored
Disliked{quote}3: TP depends on the pair. Look at ATR readings for example. SL depends on what pair too. Since all pairs have different volatlity its pretty hard to say.Ignored
DislikedHello To All I have a very simple question for you experts, but for me it results very tuff to understand money management, I am a bit dump in mathematics. So for I nee... in my mind may be there are much more please help with this query to stay as long as possible in the market. Thanks And Regards, MotiIgnored
DislikedThank you fartist, I appreciate your help {quote} Can you suggest which pairs can be trade for a day and who is day trader? Any link {quote} Link is helpful, I am learning on demo account currency USD leverage 1:200 I have a one question how can I calculate the margin money I will require to trade lots? For example table shows if I Sell following currency 0.05 lots I require margin money as shown in the table so far what is the formula applied to have 0.05 lots having leverage 1:200 will be required such money for each pair? Pairs-----------Lot...Ignored