Learn how to manage the owner is the difference between professional and merchant trader hobbyist. And therefore money management skills are essential for all types of traders, whether the merchant uses technical analysis or fundamental analysis or basic trade, and others. The ability to understand the meaning of opening a position with high leverage can prevent incurring loss.
The most important question that every trader should ask himself is, "What is the biggest loss that I incurred in each transaction / day?" Indeed, there is no absolute answer to this question, but it is supposed to increase this loss of 3-5% of the account. And if you put an end to limit the maximum loss that you incurred, you thus ensuring the continuation of your account is open for a longer period in the market.
The most important question that every trader should ask himself is, "What is the biggest loss that I incurred in each transaction / day?" Indeed, there is no absolute answer to this question, but it is supposed to increase this loss of 3-5% of the account. And if you put an end to limit the maximum loss that you incurred, you thus ensuring the continuation of your account is open for a longer period in the market.
Once you know the maximum loss that you can carry around, it will be easy for you to determine the level of leverage that you use. In each time you enter the market, you will need to assess the potential loss (in points) and in the case that the deal does not work. Then you divide the maximum loss that you can afford the potential loss of a specific transaction. The output will be the size of the loss that you incurred in the transaction.
For example, suppose that your account is $ 10,000, and you have found an excellent opportunity to trade on EUR / USD and estimated that the stop-loss order is bound to be under the entry point by 100 points. Likewise, I have decided that the maximum loss that you can carry in this transaction is $ 300. If you divide 300 by 100 you'll know that the maximum that you can afford the loss of this transaction is 30,000. Because your account is 10.000, the leverage that you used in this case is 1:3. This process differs completely calculations if I have several deals at the same time.
The calculation above is what you'll need to let the graph "tells" loss that may occur in the deal, as it will lead to consensus leverage and trading volume with the boundaries set by.
In the following article we will address how to manage the deal alive.
The calculation above is what you'll need to let the graph "tells" loss that may occur in the deal, as it will lead to consensus leverage and trading volume with the boundaries set by.
In the following article we will address how to manage the deal alive.
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