advert

How many trades can you afford to Lose?

Posted on 30. Sep, 2009 by in How To, Link Love, Random Noise

A common mistake by forex trader, specially news ones, is to underestimate the value of good money management. I sure did this for a long time as well. Using too much leverage on trades is something which will wipe out your account in no time! Often I even see traders apply some level of a martingale strategy, which in my opinion is even worse. Another common practice is to add up, into already loosing trades. Strategies like these might a first sight seems to have some valuable motives but in the end you expose yourself to more risk, and often without changing the reward. The admin over at Trainee Trader has written a great post on this subject, which should help you to understand the importance of good money management. Check it out here.

Related posts:

  1. Money Management – Tom Strignano
  2. News From ForexPeaceArmy
  3. Update on yesterdays trades
  4. Non-Farm Payroll Tomorrow
  5. Free Video Course – Informed Trades

Tags: , , ,

Are you ready to become a profitable Forex Trader? First of all, you need to be certain Key Elements to be in place, such as your Psychological Mindset, a good Broker and Trading Platform, Capital, etc.

Here you can read more about how to get started in Forex Trading.

Once you have gone through the Essential Elements, it's time to spice up your trading. You can read my reviews about other services and obviously don't forget to sign up for my Free Signals.

Also, don't forget to read about these cool tools which can take your trading to the next level... More Tools and Resources

No comments.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>