FX Instructor Live Forex Trading Room Results | 09/28/2007
Tuesday, January 19th, 2010
We had covered several important topics this week – Money Management, Risk Management, Correct Use of Stops, Position Sizing, how much to risk in your trades, and other topics – all of these topics are designed to encourage our members to follow a trading plan and money management policies, incorporating both risk management and money management together in their trading. Without it, your trading plan is incomplete.
Incorporating money management into technical analysis and day to day trading requires taking advantage of technical systems and strategies which enable us to follow these principles. Before you take the trade, you are in control – once you pull the trigger, however, the market takes over and you are no longer in control of the outcome. Trading a game of probabilities – so you should control whatever factors you can. The only factors still in our hands after a trade is initiated are Risk Management and Money Management.
What I have covered today are the basics – the fundamental stepping stones of what we follow here in our Live Forex Trading Room – and next week we will return to cover more trades based on our techniques, more setups, and more interesting discussions.
Visit http://www.fxinstructor.com to learn more.
Duration : 0:9:7
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