Money management - fixed monthly target

General topics about Forex trading

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?
User
 
Posts: 376
Joined: Wed Jul 01, 2009 7:08 pm

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
User
 
Posts: 376
Joined: Wed Jul 01, 2009 7:08 pm

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.
User
 
Posts: 376
Joined: Wed Jul 01, 2009 7:08 pm

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.
nanang
 
Posts: 49
Joined: Mon Jun 24, 2013 10:30 am

Re: Money management - fixed monthly target

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

im glad so you're a trader looking for this systerm .
most of all you can contact me to address skype: Adam.road(viKing.Adam)
apple
 
Posts: 23
Joined: Mon Dec 21, 2015 7:10 am

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.


For analysis indicator, you can use Clawn n Horn Analysis. its great Analysis from Liteforex broker. In one tools we can get fundamental analysis,technical analysis,economic calendar,video analysis. its free for liteforex clients.
http://www.liteforex.com/trading/tools/clawshorns/
forex_edo
 
Posts: 31
Joined: Mon Dec 16, 2013 10:53 am


Return to General Discussion



cron