Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from PaulRobinsonFX here:
You want to be consistent with the risk-per-trade. You don’t want to risk 0.5% on one idea, then 3% on the next, then 1% after that, and so on. Like with using fixed lot sizes, your results will be all over the map. Perhaps you are extremely confident on an idea and want to risk a little more than usual, that is fine as long it doesn’t vary too greatly from your normal trading size.
It’s quite possible you could have 10 losers or more in a row, and with that said, losses can pile up quickly. One needs to factor in the total string of losers and how big it could potentially be Trade frequency is an important factor to consider. On one end of the spectrum, if you hold trades for several weeks, you trade with far less frequency and thus can risk more per trade. While on the other end, if you are a day-trader, then your risk-per-trade needs to be much smaller as losses can pile up in a very short period of time.webinars covering analysis, fundamental events, and education.
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