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Money Management?

  • #1
  • First Post: Apr 15, 2009 8:27am Apr 15, 2009 8:27am
I always find myself in trouble if i trade through proper MM Rules. Now i am totally trading against MM with very good result's. My Stoploss is huge most of time's as compared to my TP. Well i was wondering how you guy's trade with proper MM & It's rules?
What's your result's trading through them?. Maybe i have a lack of discipline?
  • #2
  • Apr 15, 2009 8:54am Apr 15, 2009 8:54am
Quoting PipHacker
I always find myself in trouble if i trade through proper MM Rules. Now i am totally trading against MM with very good result's. My Stoploss is huge most of time's as compared to my TP. Well i was wondering how you guy's trade with proper MM & It's rules?
What's your result's trading through them?. Maybe i have a lack of discipline?
I optimize my trading entries so much that my stop loss is very tight.Usually something between 11 and 20 pips.
I believe discipline is more important in defining the entry point .
If your entry point is optimal your risk is minimal.
I prefer not entering in a position if the price does not hit my entry price rather than jumping in and placing huge stop losses even if I know that the market will eventually move up or down.
Problem is that with huge stop losses you risk losing a good amount of earnings if you are wrong just once.Of course that depends on the risk/reward ratio but nevertheless its mentally pressing placing stop losses that are too wide.At least that s the case for me.
  • #3
  • Apr 15, 2009 9:08am Apr 15, 2009 9:08am
What exactly do you mean with breaking your MM rules?
Risking 20% on a trade?
  • #4
  • Apr 15, 2009 10:46am Apr 15, 2009 10:46am
Quoting Tjpld
What exactly do you mean with breaking your MM rules?
Risking 20% on a trade?
My Target Profit is +50 to +70 Pip's but my stoploss is -120 Pip's most of times
  • #5
  • Apr 15, 2009 12:35pm Apr 15, 2009 12:35pm
Quoting PipHacker
My Target Profit is +50 to +70 Pip's but my stoploss is -120 Pip's most of times
As long as your hitrate makes up for the losses there is nothing wrong with that on its own.

Maybe you should try trading without TP only with SL and trail it manually.
  • #6
  • Apr 20, 2009 2:53pm Apr 20, 2009 2:53pm
Quoting PipHacker
I always find myself in trouble if i trade through proper MM Rules. Now i am totally trading against MM with very good result's. My Stoploss is huge most of time's as compared to my TP. Well i was wondering how you guy's trade with proper MM & It's rules?
What's your result's trading through them?. Maybe i have a lack of discipline?
Have you had situations where you've been in the red THAT far on a trade and still seen it recover (based upon the signals for which you made the original trade, not luck)? If so, then fair enough, but if not then why go so far.

However as said above, if it works for your strategy then good for you!
  • #7
  • Last Post: Apr 21, 2009 1:52am Apr 21, 2009 1:52am
Quoting MonkFX
Have you had situations where you've been in the red THAT far on a trade and still seen it recover (based upon the signals for which you made the original trade, not luck)? If so, then fair enough, but if not then why go so far.

However as said above, if it works for your strategy then good for you!
Yes it happened with me lot of time thats why my sl is -120 Pips most of times in jpy related pair's.
i was just woundering about other traders experiences. Coz i saw lot of traders also here with huge or even with no stoploss lol
Pip!
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