aaah! Nice way to start the week. Still in my shorts from friday! 
Hero Traders Live to see their Accounts Die!
Simple & Consistent Fibbing Method
- #484
- Mar 14, 2010 4:21pm Mar 14, 2010 4:21pm
- Joined Jan 2008 | Status: Focussed | 2,382 Posts
Hero Traders Live to see their Accounts Die!
- #487
- Mar 15, 2010 1:02am Mar 15, 2010 1:02am
- Joined Jan 2008 | Status: Focussed | 2,382 Posts
Hero Traders Live to see their Accounts Die!
- #488
- Mar 15, 2010 1:03am Mar 15, 2010 1:03am
- Joined Jan 2008 | Status: Focussed | 2,382 Posts
Hero Traders Live to see their Accounts Die!
- #489
- Mar 15, 2010 1:04am Mar 15, 2010 1:04am
- | Joined May 2009 | Status: Sucessful Praying FxTrader2Investor | 343 Posts
Blessed morning to all,
hope you will be able to trade what you see this London.
Congratulations & Thanks for the resources Simoneg. Ran through the MM Spreadsheet and wish a comment(s)
If I could, encourage other when they see RISK = = The amount I am prepared to Loose. Unfortunately we fell the value of risk only after we are called upon to donate it to the market.
In relation to account size (deposit), I concur with the 1-2% of opening balance per trade or more specifically remaining balance. may i recommend also 5-10% (preferably 5% of opening balance ie, if I have $100.00 i am not prepared to loose more than $5.00 to $10.00) on a given set of trades. At 1% to 2% per trade tells me I should be in no more than 2-5 trades. of course this is mapped onto the leverage I am using. But Again, my preference is: How much it will cost me to place the trade?
If a traded lot required costs $ 50.00 for the pair, with margin at 100:1, then I will need to put up 50/100 = $0.5 per trade. $5.00/$0.5 = 10 lots of that pair at that leverage, without violating my personal money management regimen/DECIPLINE.
Whilst trades are running two things are our Platinum & Golden parachutes respectively: individual Stop Loss {or some other means to exit trade} The Staying power = Margin/Equity. My recommendation is to aim for ratios between 6.00 (600%) and 10.00. (1000%) The higher this ratio the longer you can withstand (-ve) P/L on your account and your chances of recovery.
Trade Safely! Everyone knows when I'm in a good trade but I dare not share the looser(s) to which I have become married. Let profits run (to your educated targets, fixed at/from start!) & Cut your losses at your predefined/educated amount your can loose. To increase ones risk appetite in the midst of a trade is never good and an error from which few have recovered.
Trade with Grace, at the pace your heart and account can manage.
Bless!
hope you will be able to trade what you see this London.
Congratulations & Thanks for the resources Simoneg. Ran through the MM Spreadsheet and wish a comment(s)
If I could, encourage other when they see RISK = = The amount I am prepared to Loose. Unfortunately we fell the value of risk only after we are called upon to donate it to the market.
In relation to account size (deposit), I concur with the 1-2% of opening balance per trade or more specifically remaining balance. may i recommend also 5-10% (preferably 5% of opening balance ie, if I have $100.00 i am not prepared to loose more than $5.00 to $10.00) on a given set of trades. At 1% to 2% per trade tells me I should be in no more than 2-5 trades. of course this is mapped onto the leverage I am using. But Again, my preference is: How much it will cost me to place the trade?
If a traded lot required costs $ 50.00 for the pair, with margin at 100:1, then I will need to put up 50/100 = $0.5 per trade. $5.00/$0.5 = 10 lots of that pair at that leverage, without violating my personal money management regimen/DECIPLINE.
Whilst trades are running two things are our Platinum & Golden parachutes respectively: individual Stop Loss {or some other means to exit trade} The Staying power = Margin/Equity. My recommendation is to aim for ratios between 6.00 (600%) and 10.00. (1000%) The higher this ratio the longer you can withstand (-ve) P/L on your account and your chances of recovery.
Trade Safely! Everyone knows when I'm in a good trade but I dare not share the looser(s) to which I have become married. Let profits run (to your educated targets, fixed at/from start!) & Cut your losses at your predefined/educated amount your can loose. To increase ones risk appetite in the midst of a trade is never good and an error from which few have recovered.
Trade with Grace, at the pace your heart and account can manage.
Bless!
- #490
- Mar 15, 2010 1:12am Mar 15, 2010 1:12am
- Joined Jan 2008 | Status: Focussed | 2,382 Posts
Hero Traders Live to see their Accounts Die!
- #493
- Mar 15, 2010 1:38am Mar 15, 2010 1:38am
- Joined Jan 2008 | Status: Focussed | 2,382 Posts
Hero Traders Live to see their Accounts Die!
- #494
- Mar 15, 2010 1:54am Mar 15, 2010 1:54am
- Joined Jan 2008 | Status: Focussed | 2,382 Posts
Hero Traders Live to see their Accounts Die!
- #496
- Mar 15, 2010 2:45am Mar 15, 2010 2:45am
- Joined Jan 2008 | Status: Focussed | 2,382 Posts
Hero Traders Live to see their Accounts Die!
- #499
- Mar 15, 2010 4:07am Mar 15, 2010 4:07am
- Joined Jan 2008 | Status: Focussed | 2,382 Posts
Hero Traders Live to see their Accounts Die!