Good money management

Good money management when trading is based on only trading a small percentage of your total trading bank like 2% for example. With every trade there is risk, so professionals only enter trades where there reward potential is around twice that of their loss potential.air jordan shoes Therefore their risk to reward ratio is high enough to allow for them to lose around half their trades overall and still be in profit.

When applying these principles in practice in a live trading position, unless the trader is very disciplined, it can be easy to break the rules when your money is on the line. It is tempting for the beginner to take money off the table too soon or to leave a loss on the table too long hoping the situation will change. swarovski jewelry It is these trading decisions which will ultimately make or break the bank of the forex trader in the long run.

As a beginner I jumped in and out of the market constantly looking for the opportunity to win a trade and not wanting to miss out on anything. Mostly I lost using this tactic although the occasional win kept me inspired to keep learning. A good trader will look for reasons NOT to enter a trade rather than reasons to enter trades. 'A trader is not a battlefront soldier, a trader is a sniper'. online jewelry stores A traders job is to sit and wait and analyse the charts and sit and wait some more. Only when the perfect trade lines up does the professional trader fire a single bullet!

29.7.10 03:33

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