Comments on: Forex Money Management : A New Approach http://forex.firepips.com/2008/10/27/forex-money-management-a-new-approach/ Wed, 10 Mar 2010 02:55:05 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Reena Woodby http://forex.firepips.com/2008/10/27/forex-money-management-a-new-approach/comment-page-1/#comment-1123 Reena Woodby Sat, 13 Feb 2010 01:21:53 +0000 http://forex.firepips.com/?p=41#comment-1123 Hi, i must say fantastic blog you have, i stumbled across it in Bing. Does you get much traffic? Hi, i must say fantastic blog you have, i stumbled across it in Bing. Does you get much traffic?

]]> By: perrie http://forex.firepips.com/2008/10/27/forex-money-management-a-new-approach/comment-page-1/#comment-734 perrie Mon, 01 Feb 2010 11:23:41 +0000 http://forex.firepips.com/?p=41#comment-734 I realise this doesn't take account of differing pip values, but it's close enough for me (as i'm working at 1%) - Oandas platform can automatically trade a fixed % based on stop loss - and you can trade pico lots there ie 0.000 01 of a lot (ie $1) amounts are calculated to 0.0001c and you get interest on the non traded part of your account, as well as second-by-second interest on the trading bit. - off my soapbox now . I realise this doesn’t take account of differing pip values, but it’s close enough for me (as i’m working at 1%) – Oandas platform can automatically trade a fixed % based on stop loss – and you can trade pico lots there ie 0.000 01 of a lot (ie $1) amounts are calculated to 0.0001c and you get interest on the non traded part of your account, as well as second-by-second interest on the trading bit. – off my soapbox now .

]]> By: perrie http://forex.firepips.com/2008/10/27/forex-money-management-a-new-approach/comment-page-1/#comment-733 perrie Mon, 01 Feb 2010 11:19:29 +0000 http://forex.firepips.com/?p=41#comment-733 I have a chart made out each day based on the account balance to determine lot sizes to trade based on risk. I trade 1% per pair. here is the formulae (Spread+ stop loss) = (Account X %risked)/( 1000 x lots) ie for today (5400 x1)/(1000 x lot) = 5.4/lots , so i write a paper with 0.01 to 0.15 and calculate the pip value, ie 0.01 lot is 540 pips - so any stop loss > 540 pips i don't trade, 0.02 give 270, so from 271-540 it's 0.01 lot, 270-181 0.02, 181-131 0.03, 130-104 0.04 etc , that way i can more quickly enter trades . You could also use available equity too instead of balance.- hope this is of some use in MM I have a chart made out each day based on the account balance to determine lot sizes to trade based on risk. I trade 1% per pair. here is the formulae (Spread+ stop loss) = (Account X %risked)/( 1000 x lots) ie for today (5400 x1)/(1000 x lot) = 5.4/lots , so i write a paper with 0.01 to 0.15 and calculate the pip value, ie 0.01 lot is 540 pips – so any stop loss > 540 pips i don’t trade, 0.02 give 270, so from 271-540 it’s 0.01 lot, 270-181 0.02, 181-131 0.03, 130-104 0.04 etc , that way i can more quickly enter trades . You could also use available equity too instead of balance.- hope this is of some use in MM

]]> By: Forex Advice http://forex.firepips.com/2008/10/27/forex-money-management-a-new-approach/comment-page-1/#comment-361 Forex Advice Wed, 26 Aug 2009 17:55:40 +0000 http://forex.firepips.com/?p=41#comment-361 The formula is quite simple, but imagine if you're dealing with tens of different currencies, how would you compute its trade size on say, a daily basis? All this can of course be answered with automation and using robots. --Rosela The formula is quite simple, but imagine if you’re dealing with tens of different currencies, how would you compute its trade size on say, a daily basis? All this can of course be answered with automation and using robots.

–Rosela

]]> By: IntradayTrader http://forex.firepips.com/2008/10/27/forex-money-management-a-new-approach/comment-page-1/#comment-328 IntradayTrader Tue, 11 Aug 2009 06:45:36 +0000 http://forex.firepips.com/?p=41#comment-328 Risk control is one of the most important aspects of survival. Your description is right on, it will help traders understand the principles. Many traders make the mistake of trading too big, all or nothing. The first priority is survival, profits come after that. Risk control is one of the most important aspects of survival. Your description is right on, it will help traders understand the principles.

Many traders make the mistake of trading too big, all or nothing. The first priority is survival, profits come after that.

]]> By: Forextrading http://forex.firepips.com/2008/10/27/forex-money-management-a-new-approach/comment-page-1/#comment-115 Forextrading Tue, 02 Dec 2008 08:37:27 +0000 http://forex.firepips.com/?p=41#comment-115 Through your provided steps any trader will do forex trading management in systematic way. Through your provided steps any trader will do forex trading management in systematic way.

]]> By: tradingfan http://forex.firepips.com/2008/10/27/forex-money-management-a-new-approach/comment-page-1/#comment-68 tradingfan Fri, 14 Nov 2008 14:07:02 +0000 http://forex.firepips.com/?p=41#comment-68 Awesome post. Its really a nice and informative post i have seen. Actually I am new to forex trading. so this post is surely going to help me in my forex trading. Thanks again, for this post. Awesome post. Its really a nice and informative post i have seen. Actually I am new to forex trading. so this post is surely going to help me in my forex trading. Thanks again, for this post.

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