Good point, but unfortunately retail trading platforms in the majority are designed for (novice) traders who need TP and SL in a little box on their trade ticket. There's a lot to be said for going back to more professional platforms, it would cut ...

Exit is more important than the entry

Exit when there's no longer a valid or viable reason to be in the trade, that applies equally to profitable as well as unprofitable trades. If you're looking for more specific advice then you probably need to be more specific about the strategy you ...

Exit is more important than the entry

Yes

Exit is more important than the entry

I like it, a bit of lateral thinking!

Time to call it quits

lol, I can nearly guarantee we've all been there, it seems like a mandatory pain we have to pay! For me way too many times the light at the end of the tunnel turned out to be a freight train coming the other way, it's wasn't pretty!

Time to call it quits

Sounds like it's worth a read then, I've seen a few people mention it now.

Time to call it quits

The questionnaire can be quite revealing! You're supposed to take it before reading the book and again after reading it tho', lol

Time to call it quits

I cut my teeth in the wild west of retail forex, I suppose it's sometimes a case of better the devil you know...mind you it would probably broaden my outlook to trade other markets but forex has gotten like an old comfortable pair of slippers now. ...

Time to call it quits

Same prop shop? They were patient! Had one been personal equity then I would have thought the point is obvious. Sure, but the basics of trading are the same. I noticed you haven't traded forex, is it something you're looking into?

Time to call it quits

Did you trade both with a prop shop? Maybe that was the difference rather than the market?

Time to call it quits

Sadly that is so true (of most but not all) but really, some of the most unsuitable people just drop into this business with little or no experience and even less common sense and somehow expect to produce instant money, did they really honestly ...

Time to call it quits

Discuss all you want but that wasn't the question. You asked "What level/percentage of account balance do you consider "reasonable", I was just explaining that it's an impossible question to answer simply because of the many many variables. Surely ...

What Is "Proper" Risk/Money/Trade Management?

Is there such a thing? Apart from institutional trading being a different game, the bonus culture encourages and rewards traders to take excessive risks with other people's money, I'm not sure they're a very good role model!

What Is "Proper" Risk/Money/Trade Management?

How long is a piece of string? Way too many variables to give a blanket figure....objective, subjective, market/account/performance/trading cycle/trader dependent, it's impossible to give a figure and naive to think one number can cover all. 0.1% ...

What Is "Proper" Risk/Money/Trade Management?

You are! But just forget about the leverage and margin requirement part, they're not important. As long as you keep risk at/below a reasonable level then it's impossible to overleverage. $1,000 x 2% = $20 $20 divided by 30 pips stop = $0.67c per pip ...

What Is "Proper" Risk/Money/Trade Management?

Excellent, the 'teacher' becomes the student! Seems like you're learning something from this thread FX4Newbies, like you say it's what discussions are all about! Take care,

What Is "Proper" Risk/Money/Trade Management?

The point is you didn't appear to know something as basic as that, which obviously brings into question the validity of any advice you may offer as it could be based on a lack of some very basic knowledge and understanding. Your inclusion of ...

What Is "Proper" Risk/Money/Trade Management?

On the contrary I understand the concept of scaling in and managing risk extremely well. My tongue-in-cheek remark about trading nano lots being a 'waste of time' referred to your comment "I don't know what they call position sizes smaller than a ...

What Is "Proper" Risk/Money/Trade Management?

LOL

What Is "Proper" Risk/Money/Trade Management?

Which one would help prepare you better for competing in the Grand Prix, driving a cheap disposable compact at 1mph or driving a realistic simulator at 150+mph, which one would give you a better 'feel' and prepare you better for what's to come? ...

What Is "Proper" Risk/Money/Trade Management?