Money Mangement, Do you take it serious?

Quoting Mr Trend

Disliked

You bet.It depends on the strategy, but as a general rule I risk 3% per trade.I have in the past. I've done a 75% drawdown. Currently? Heck no. I'd shoot myself.Depends if it's in my trading plan... if the system suffers that loss, but overall is successful, then I guess I do nothing and continue following my plan, because I trust my system.3%
You mean 1:1 or 1:2? 1:1 would need to be 51% or higher success rate.Yes. I have a spreadsheet that I plug my capital and risk amount in, and it automagically tells me how many units to risk. It's dandy. Nothing. Why be emotional?Nothing. Why be emotional?I want to be a pro working for myself in two years. I believe it will happen because I will succeed no matter what. I don't trade with "money I can afford to lose." Whoever invented that saying should be taken out back and beaten like a punk. So yes, I'm a tad serious... If you had a business, wouldn't you be?

Here, let me break it down for ya's:

I hear the newbies in the forums chatter boxing
Mr. Trend and DS got all the traders watching
I hear them jam japing bumping guns chasing crones
We ain't concerned with them bums we accumulating funds
They think we don't take our funds oh so serious
Until they see our accounts grow so furious.
See me in the new Benz cuz I'm oh so ballin'
Or a old school slab with the few wheels fallin'
We got em talkin' but really they ain't saying too much
Just speculating that money management is just a crutch.

Ignored

Quoting MoneyMa$ter

Disliked

Oooohhhhh Kaaaaaayyyyy........

I'm still working on the beat, but .... yeah.....mmmmm ..... send me a demo....... ya know....... like .....we don't want a hot mess.....but yeah.... we'll give you a call.....mmmmm ......How about this little bit of flavor??

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

They call me MISTER TREND,
Money Master calls me friend,

we got'em talkin'
da newbies,
we got em walkin'
da newbies

and me and Dark Star we just stalkin, stalkin

.....


like dem guys from Brooklyn....... dey bums,
let em bump dey gums while we be gettin da funds;

Let em bump dey gums while we be gittin da funds
Let em bump dey gums while we be gittin da funds

Like a five cent stamp they a thing of the past
and like dead men walkin, they got a stick up dey whooooops

bums still tryin to think

but we kickin ass cause dey stuck in the past

Let em bump dey gums while we be gittin da funds
Let em bump dey gums while we be gittin da funds

Yeah we be so mysterious, but we take our funds serious
den dey see our bank grow like pinochio's nose
No we don't be lyin cause we too busy flyin
coast to coast like Jay Z, he da most....
den we hop in da benz, da AMG benz,
cause we haulin.... we ballin.... and we makin dem ends

Let em bump dey gums while we gittin da funds
Let em bump dey gums while we gittin da funds!!!!

Ignored

Quoting charlyher

Disliked

Dude, mm is crap!
It is about losing little and delaying your eventual forex tilt (POKER TILT).

If mm was so good, people would all be winning by now especially the
money managers. NOPE! Money managers have problems year after year.

The key is to have an edge. The edge is you. It is not mm.
People use mm all the time in blackjack, poker, forex. Yet, most still are losers!!!!!!

Ignored

Quoting Turveyd

Disliked

Sorry not here to lose slowly, I'm here to win big, MM gets in the way of this.

Ignored

Quoting Intu

Disliked

I love your 1min TF thread, and your contributions here are tremendous...
but read that sentence again and tell me that sounds like the proper trader mindset.

Just my 2 cents, I'm getting destroyed lately...so perhaps you are right.

Ignored