I find this one useful. Based on ADR(13).:
https://www.cliqforex.com/attachment...1879834669.mq4
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I find this one useful. Based on ADR(13).:
https://www.cliqforex.com/attachment...1879834669.mq4
Straightforward and to the point.
Thanks
Hello Nomo:
Please help to see if I understand your MM correctly. I am putting dollar amount into it to allow it to be clear.
Let states we start the account with USD10,000.
Daily capitol risk 2% = 2% * 10,000 = USD200
For the very first trade, the risk will be 1 percent = USD100
Suppose, there is a commerce opportunity in EURUSD and the stoploss is 20pips. Each pips moves is USD10 (for standard account). So that the Lot amount ought to be (Risk Amount / Stoploss / pip value) = USD100 / 20 / 10 = 0.5 lot. So I shall only trade 0.5 lot.
So for the aforementioned trade, my goal profit will be 40pips = USD200 and I am risking USD100.
If this trade is powerful, I make USD200 and cease trading daily.
If this trade fails, I will look for another opportunity. And assume the same opportunity as above is taken and it's effective, then I shall make USD100 for the day.
If it fails , I dropped USD200 for the day.
So for a month (assume 21 trading days), assume I have 50% success rate (1/3 of each situation ), therefore 7 days I make USD200, 7 days I make USD100 and 7 days I dropped USD200. I will make USD700 for the very first month.
If for someone to live on trading, with states USD2000 monthly, then he need to have USD30,000 capitol in his account. Is this correct? Or unless the success rate is better.
Is my understanding correct?
Thanks
Jeff Ng
Wouldn't percentage dollar-wise change daily though? Say you lose $200 the first day, another day two% your account will be $196 not $200 anymore.:
Yes. . .it will change.:
in case you've 30k readily available for trading, you are going to be able to manage $600.00/2% risk a day.:
I personally don't receive any focus in my profits. I get focused more in my risk. Some people ask me a bout% of winnings, averages etc.. It is a waste of time and will only set you in your feet.
Take this as a business. . .some months will be better and some will be fine. But in my book, I have not obtained a losing month since I use this code on money management. .
My balance sheet is 1 month . I trade everyday but with a 1 month goal. A single day of trading is simply a 9 to 5 job, together with the benefit of never having a boss breathing on my neck. . .and I get to see T.V while my trade grows LOL.
You're correct in your observations.
My trading faith (if we could call it that way) is this money management I simply laid out.
Cheers
Thank you for the indior, you rockJim:
Jim:
I'm so sorry did not respond to your post.
You could try ATR. I do it by ear, to be frank.
Let us know your findings, please.
Cheers.
I think you need to reevaluate what MM signifies....Phorex Phreak
:
Enrolling.