Dislikedphil,
thanks for the explaination. i 'm really lack in money management.
any suggestion of good money management plan?
your money management?http://www.forexfactory.com/images/icons/icon7.gif
your system working fine and suit with my trading style.
+ dicipline this system is very profittable.
i also want to contribute something (researching) to ensure it will be a perfect profittable system.
till then.Ignored
My money management is purely based upon how many times will I be able to trade (according to the capital I have) with the amount I am about to trade and if I am wrong for a couple of times. How many wrong times depends on the history of the strategy I am trading either by backtesting but preferably while trading live. If after 30 to 50 trades you had a worst of 5 bad runs in a row it means that is the amount you should have available plus some more to be able to go on and take the good runs after the bad patch. That is why I only make three trades max per day. A move normally provides two trades. The London session might give two and the US session might give two. When the move is steady downwards but many pips it might give three to four. After two wins for the day I am out. After two losses I am out. After one win and one loss i will trade one more if it comes. Don't try to get even with the market. You then get emotional and that is looking for trouble.
Hope this helped.