Some time ago, another member had made a comment that I did not discuss Money Management in one of my other threads. That is a HUGE topic. There are several successful money management approaches from the Newbie level to the Professional Level.
As with anything else, the success of a money management approach can only show its true worth as a result of the way it is followed by a trader.
In this thread, I hope we'll discuss some credible methods used by traders of all levels. This is not a thread for ridiculous, futile arguments just for the sake of arguing. Some traders do well with no stops; some insist on them. Are both making money monthly or annually? If they are, great.
Each trader must find what works for them in their money management approach. Let's explore the possibilities and maybe traders can get on with the business of making and keeping money consistently, and find something that works for them...and the level of risk you decide to take must be something that you're comfortable with.
FX4...
As with anything else, the success of a money management approach can only show its true worth as a result of the way it is followed by a trader.
In this thread, I hope we'll discuss some credible methods used by traders of all levels. This is not a thread for ridiculous, futile arguments just for the sake of arguing. Some traders do well with no stops; some insist on them. Are both making money monthly or annually? If they are, great.
Each trader must find what works for them in their money management approach. Let's explore the possibilities and maybe traders can get on with the business of making and keeping money consistently, and find something that works for them...and the level of risk you decide to take must be something that you're comfortable with.
FX4...