Money management - fixed monthly target

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Money management - fixed monthly target

Postby User » Tue Jul 07, 2009 9:15 pm

Forum transfer: Submitted by darkside on July 29, 2008 - 11:28.

I have a question about money management. Does any of you set a certain number of pips(for example 200) as a profit target for a month and then if it fulfills it, stop trading for that month? Could this be a good money management techinque?
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Re: Money management - fixed monthly target

Postby User » Tue Jul 07, 2009 9:16 pm

Forum transfer: Submitted by Rich on July 30, 2008 - 00:24.

You never know what next month is going to bring.
It may be a range bound market for the entire month, but what if it turns to be a heavily trending season..? It would be disappointing to see those opportunities to pass by you..

In my opinion a fixed target a month isn't a bad idea if your strategy is able to make you 200 pips or so guaranteed. For example, scalpers are able to pull out 200 pips a month with no efforts. Then, it is a good money management technique to keep yourself from over-trading and preserve the gains.

However, if your trading system relies on trends and is not able to reach profit target each month no matter what, then it is better to never set a fixed target.
Think about this: traders who trade daily or weekly or even monthly charts survive lots of systematic losses and win big only few times a year, which is actually enough to be very profitable overall.

Rich
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Re: Money management - fixed monthly target

Postby User » Tue Jul 07, 2009 9:16 pm

Forum transfer: Submitted by rosy on June 11, 2009 - 11:06.

Money management is the process of knowing where you are spending your money today, and having a well thought-out plan in place for where you want it to go in the future.
This program will cover the core concepts of money management, and will teach you how to, Set Goals, Get Organized, Cut Spending Waste, Build a Budget, Save Money these all thing come under the money management.
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Re: Money management - fixed monthly target

Postby david100 » Sat Aug 15, 2015 8:27 pm

money management is very necessary to avoid loss. With money management you can know where are you spending your money and how you can manage it.
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Re: Money management - fixed monthly target

Postby nanang » Mon Aug 31, 2015 11:36 am

Yeah, money management is important, but the broker it self also most important.
Broker will decide your success or not in forex. I recommend Liteforex broker as your money needed.
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Re: Money management - fixed monthly target

Postby fxjennifer » Mon Jan 25, 2016 10:12 pm

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Re: Money management - fixed monthly target

Postby apple » Tue Feb 23, 2016 3:02 am

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Re: Money management - fixed monthly target

Postby forex_edo » Fri Feb 26, 2016 10:11 pm

fxjennifer wrote:Forex trading is not easy if you don't know how to read the trends or have a very good strategy. I'm grateful that I have been able to get the best strategy and have taught so many individuals who have benefited from the trades. Teaching others to be successful is my joy. I would like to thank you all for the appreciation and I'm glad that I can be helpful to a lot of traders. Contact me at [email protected] and get the best Forex trading strategy for free.


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Re: Money management - fixed monthly target

Postby fxjennifer » Tue Apr 05, 2016 2:04 am

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