Conservative Money Management

Hello traders!

Been trading FX for 5+ years. Money management in my opinion is the most important aspect of FX as it is a zero sum game. Sometimes its hard to keep your MM in check, especially when consecutive losses occur and thats one of the reasons why I will keep this journal.

I use no or very low leverage, trying to keep the DD under 3% and the avg monthly profit above 3%.

I use three different strategies which complement each other and get anywhere from 20-30 trades per month on average.

Myfxbook link to performance is in profile description.

Market is painfully slow so probably no trading until Jan 3rd....

what strategies do you use please , thanks

what money managament rules you use ,, thanks

First strategy is based on supply&demand with special rules, works in every session, best performance on major currency pairs.

Second is a swing breakout strategy - trend trading, which is the direct opposite of buy low sell high.

Third strategy is based on Fibonacci levels adaptation.



Money management is tight, usually no leverage is used. Do not chase losses by raising exposure.

Hi erud
can you explain more about your special rule called "supply&demand"? how long do you use that strategy?

Hi erud!

You''re a not-numerous person here who talks right things about market (zero-sum game etc). Pls share more your way of trading. It looks like you know what you're talking about. But actually I think it's a negative-sum game due to any commissions, need an edge to beat it

Thanks mate

Hello,

this is a Trading Journal thread, not a Trading systems thread. I am not here to explain my strategy in in detail or elaborate on the way I trade. I would be doing that in Trading Systems thread.

I am currently short on AU with [email protected]

Looking for a set up, looks like something is shaping up...

Similar set up as last week....
Short AU @ 0.7345
SL@ 0.7370

Stopped out....

Long AudUsd @0.7388 on a breakout

SL@ 07348

Closed in profit....

Short EurUsd@ 1.0679
Original SL @ 1.0715 now moved to BE+1

Price tested the entry point two times, came within 1 pip of SL but it survived. Expecting it to drop further...

As expected the trade is doing well after the test of the entry point. Currently in profit 60+ pips and counting))

Closed for 65pips

I am having a problem with myfxbook performance, it is not updating properly. It shows gain in the info tab as 39.01%, the gain on the chart is shown as 39.86%, the last EU trade is not shown in the trading history and the actual gain that should be shown is 40.37%. I hope they will fix it soon...

Still trying to fix the problem with myfxbook. Here is what is shown in my private performance:




And this is in my public profile:



It is very strange to say the least as the Monthly Analytics tab shows exactly the same stats: