Is my trade ok?

[Ghaz]

hey Edward!

I am so happy, that I understand now the system how it works
Thank you SO much!!!
I calculated everything first with my brain to check if the excel sheets works right. First of all i checked how much pips i can offer on my stop loss by risk capital/pip worth (great indicator ). For example 100 pips. Then the sheet told me, that i could risk a for example 1,06 lots.
1,06*100*pip value MUST be the capital i want to risk!

Is it ok to open a position just with this money management?-in most cases these stops (i only calculated by risk money) are at a fractal point for example.
Sometimes not. But risk IS the most important variable....not some fractals or other things!?

thanks for your wise comments


Flo


p.s.: My old problem with the digits is history. At Activtrades they have 5 digits,too.BUT when you give in your stop loss, you can say 100 instead of 1000.Pretty cool.
They have just 5 Digits at the chart. Your win pips have the right digits!!

[Edward Revy]

Glad to hear that, Florian

The risk IS the most important variable in the long run. We can compromise the money management rules in rare cases when we feel very strongly about the trade, but that's still a bad habit.
Think this way: if you start compromising with the stop distance because of the fractals one time, then because of something else another time, it could lead to a whole new trading performance. If you decide to stay aside and not take a trade when it doesn't meet risk management rules, that's a position - a choice where don't take unnecessary risks.

[Ghaz]

thanks Edward for your wise advise!!
I think I have now a good money management and I can calculate it. In most cases I take the daily average. It fits very well.

[KajolThappar]

Yes, I am check it and Its is right

[GeorgeSl]

ok thanks for explain . but it possible to trade super candy for special?