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Money Management, Please help.

  • #61
  • Jun 15, 2019 8:29am Jun 15, 2019 8:29am
Quoting momo3HC
{quote} False... Both can blow an account.
Anything can blow up an account, trading is pretty much gambling since we can never ever predict where the price is going to go.

You can know how to trade, have the perfect risk management but something can still go wrong in the end regardless.

The 2015 flash crash destroyed retail accounts, even for the profitable traders. You cant predict when the next flash crash will happen can you? It was so bad that some brokers went bankrupt. The price movement was so quick that stop losses weren't triggered, or were filled at ridiculous prices which exceeded the amount held in some accounts.

The point is, anything can happen at anytime. There is nothing we can do about it other than to completely stop trading.

Just to add, not knowing how to trade can increase the risk of blowing up a account. The risk of blowing up a account is already there (even just by having money in a FX account can be risky), but not knowing how to trade can increase the likely hood of the account being blown.
  • #62
  • Jun 20, 2019 3:11am Jun 20, 2019 3:11am
Quoting MarsBar
{quote} Anything can blow up an account, trading is pretty much gambling since we can never ever predict where the price is going to go. You can know how to trade, have the perfect risk management but something can still go wrong in the end regardless. The 2015 flash crash destroyed retail accounts, even for the profitable traders. You cant predict when the next flash crash will happen can you? It was so bad that some brokers went bankrupt. The price movement was so quick that stop losses weren't triggered, or were filled at ridiculous prices which...

- Any kind of trading have similarities with gambling but if you see it like a gambling then you can blow up your account.

- I really dont get what happened in 2015. I am in this business for quite sometime don't call an event that can wipe your account within miliseconds (I am assuming that was the case you describe because in minutes there is liquidity).

-I don't know how an honest well managed broker can bankrupt. Broker is an intermediary passing price quotations from their liquidity providers with a profit margin. If the spread widens that is not their problem (which btw should be written on one of those papers you sign up at the very beginning of account opening).

- You cannot know flash crashes just as much as you cannot know the next car passing will hit you. So let's not exeggrate this whole thing.


Okay I waste the time I needed, now back to work..
  • #63
  • Jun 29, 2019 2:57am Jun 29, 2019 2:57am
Quoting Kxeroo
{quote} - Any kind of trading have similarities with gambling but if you see it like a gambling then you can blow up your account. - I really dont get what happened in 2015. I am in this business for quite sometime don't call an event that can wipe your account within miliseconds (I am assuming that was the case you describe because in minutes there is liquidity). -I don't know how an honest well managed broker can bankrupt. Broker is an intermediary passing price quotations from their liquidity providers with a profit margin. If the spread widens...
2015 was the 1st year of your trading? Or anything else?
  • #64
  • Jun 29, 2019 3:40am Jun 29, 2019 3:40am
Quoting ZikriIrfan
{quote} 2015 was the 1st year of your trading? Or anything else?
If you try to reason your incompetent trading you shouldnt blame market first.
  • #65
  • Jun 30, 2019 3:09am Jun 30, 2019 3:09am
Quoting Kxeroo
{quote} If you try to reason your incompetent trading you shouldnt blame market first.
It’s not my own pattern actually! I always try to learn from my own mistakes; this habit helps me a lot to improve my own trading skill.
  • #66
  • Aug 30, 2019 9:01am Aug 30, 2019 9:01am
money management is a very good skill in Fx trading,
i always fail to manage money particularly during news.
for that reason news trading is very difficult for me.
  • #67
  • Oct 16, 2019 9:29am Oct 16, 2019 9:29am
Quoting havo
{quote} Renko its easier visually to understand and follow and therfore easier/simpler to process to your brain (wel,, for most people lol) put the odds in your favor, if something its "complicated" to you and there are other ways to do it.. try them !! maybe one of those could finally "click" with you and become the final piece of the puzzle {quote} Right now i use a commercial generator that its 100% stable and reliable but you could use any other generator too, in fact in this forum there are some that are really good too {quote} Yes i use a...
dear havo, i wanted to ask you some questions about renko and commercial renko generator you are using, but i cannot PM you, would you please and be kindful to PM me? thanks a lot....
  • #68
  • Oct 31, 2019 1:44am Oct 31, 2019 1:44am
Quoting MarkFxAnde
money management is a very good skill in Fx trading, i always fail to manage money particularly during news. for that reason news trading is very difficult for me.
That means; you are trading only based on the technical analysis! Whatever, try to learn news trading; don’t ignore (completely) the news sessions; since fundamental events are very crucial.
  • #69
  • Jan 19, 2020 8:29am Jan 19, 2020 8:29am
i think the most difficult part in Forex to trade during news. but due to lack of real fundamental knowledge and experience i have to avoid it. but i agree , there is a good chance to bring profit during news.
  • #70
  • Dec 18, 2020 2:44pm Dec 18, 2020 2:44pm
You should make a good and solid trading pan to minimize the losses in the forex market.
  • #71
  • Dec 19, 2020 7:10am Dec 19, 2020 7:10am
Money management is the most important thing in the forex market. If you can not manage your money properly in this risky market you may face a great loss.
  • #72
  • Last Post: Dec 20, 2020 12:23am Dec 20, 2020 12:23am
can you please ensure what money management do you use right now ? i want to know , because i am much confuse about that issue most of the time.
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