Hey, I'm a bit new to FX trading (1 year and half) , and I'm really interested in knowing how do you approach MM. If you do it manually, what are the calculations that you employ. The only MM rule that I know(and the most obvious) is not to trade more than 2-3% of account, which is pretty simple: 2%-3% * account size and you are done! What about position size?stop losses/take profits?...etc. Otherwise, do you use a software to manage your trades? If yes, what are the advantages aside from automating your task?
This is an important point to discuss as money management is more important than anything else, because it helps to protect and grow account steadily
Thanks in advance.
This is an important point to discuss as money management is more important than anything else, because it helps to protect and grow account steadily
Thanks in advance.