Forex strategies revealed | FSR Forum

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?

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

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.
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