In this video - 'Build Your Own Trading Risk Management Strategy (For Beginners)' I break down and explain what key points should be included in a good risk management strategy. This video is aimed more at forex traders and indices traders although the principles can be applied to whole range of trading types. If you are currently trading without using any risk management strategies then I highly suggest you watch this video. Trading with a risk management is absolutely vital to any trader's success whether you trade forex, indices or any other markets.
4 points:
1.
Back testing:
2. The total percentage drawdown you can have your account before you stop trading for the day
3. The amount of risk you have at any moment of your account.
4. When to increase or decrease you risk parameters depending on your account growth or decline
Protect your account from large drawdowns
Not a get rich quick scheme!
A good risk management strategy to protect your account in that endeavor.
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