Forex strategies revealed | FSR Forum

You've all heard it a million times before, without proper money management you will fail in currency trading. What exactly is money management? It can be anywhere from determining which percent of your account you will use to trade with, how many positions, your stop loss amount, and take profit amount. I use a 3:1 profit to loss ratio. This means I have to be wrong 3 times to give the market back what I made. I have a success rate right around 80% and everybody can have this great of a percentage given that they stick to the basics of trading with the trend and never against. Think about it, if you even have a 50% profitable system and you have a 3:1 ratio you will be very profitable. Throw this in along with pyramiding and you can become a multimillionaire. I guy I know went from living almost in shambles to over a 9 figure net worth in 15 years doing this. The trend is your friend people why stab him in the back by trading against him? You don't need all these combinations of indicators. Just trading support and resistance along with chart patterns and trend lines and maybe an overbought/oversold indicator is all you need to be EXTREMELY successful in this. The problem is 99% of traders fail because of their emotions. I am learning personally from this guy and I too will have amassed my first million by the time I am 23 (I am 21).

By the way, anybody who tells you that it cannot be done, they are full of sh*t. If you are willing to put all the time and effort into FOREX, you will be profitable and perhaps even become a millionaire.

which I know is a high foreign exchange risk. So as to be able to survive in forex we need a good money management. By having a good money management then we will be able to trade with the maximum. we should be able to consider both how much money will we tradingkan so even though we experienced a loss then we will be able to survive in forex