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I have been told and agree with this —the most vital opponent in trading is your human emotions. Play money is one thing, everyone masters it. But when your wife’s grocery money is on the line it gets VERY REAL IN A BIG HURRY. Precisely why, even though I am a fan to an extent, robotic trading ends up irrational ironically. You really have to learn and gain (a feel) for markets. And you must educate yourself in every facet you are capable of or you are just throwing water into the wind. But you can do that as well and come out ahead. But at what risk?
Bobby is very good if I may say so. Regarding posting. I would encourage every person out there watching us to make a post when you feel like it whether or not it might work out favorably if a trade idea. Largely one of the greatest benefits of this former CTA I ever received was listening to everyone in GVI whether you agree or not, and asking questions. Jay will answer. He has a tremendous ability and history. More input here will inspire me to turn into Peyton Manning in the forum. Of note, I will be in and out of trades very rapidly. Some are testers to see the carry impact or margin impact, those are some of the things that tell you if the odds are stacked in your favor or not. The goal is a minimum of 10 pips per trade, but I will often take 2 or 3 if I don’t like the carry/margin/other impact. So be on your toes. If I am holding, I will note it and usually with a project time horizon. Please bear in mind most CTA’s or former CTA’s are momentum practitioners.
Effective at the end of this month Monedge will no longer provide its signal service due to exactly what I mentioned in an earlier post today. Unfiltered automated signals is playing with fire without human input. You will find most of our signals here in GVI at an increasing rate in a fashion that hopefully does not clog the forum and unintentionally discount the other very very good traders and posters in GVI. I tend to bein and out of trades rapidly through the course of a day/night. My collegues tend to hold positions for a week or longer. So my posts could be frustrating for anyone including myself due to the sheer rapidity lol. One CTA called me a walking talking high frequency robot lol. You simply will not find a better place than GVI. It has been THE go to source since the 1990’s. Disclaimer – I am not paid by GVI. Yet lol
The one algorithm I designed based on the bands was jaw dropping good with the results. One portfolio manager who traded with me every morning challenged me with the promise if I could beat him he would turn over 20% of his portfolio to me. He was from France and traded from his yacht for the most part. I beat him badly lol. Then came the day the caveat was he wanted intentional losses because his clients were using him to make losses as a tax write off. I obviously just treated it as a gentlemen’s bet in the end lol. You can’t make this stuff up .
I tested almost every retail available automated systems. Every single one starts adding up losses .inevitably. I also designed and reverse engineered seemingly endless systems and indicators. The best was an adaptation of Bollinger bands which made each of the bands and mid-line smoothed toa 20day average of the bands. Was like clockwork. Inevitably it was flawed like the rest. It is why there is a legal/regulatory designation sthose who are “discretionary CTAs.” It is important to monitor the portfolio and make human decisions and those are the best CTA’s unless you are running a high frequency platform in my experience.
The way our newly redesigned site is set up, the Forex Forum is for dynamic, real-time trading-related updates while our blog is FILLED WITH insightful articles with trading insights you can incorporate into your daily trading.
HERE IS ONE THAT WORKED LIKE A TEXTBOOK AFTER AN EARLY SESSION CORRECTION STALLED AND THE DOLLAR IS NOW BACK WITH A BID.
Actionable Forex Trading Strategy When to Fade a Correction
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What is Risk Management in Trading – Forex Forum
For any trader, managing risk is essential to success. But what exactly is risk management? In this blog post, we’ll explore what risk management is and how it can help you become a successful trader.
We’ll also look at some common mistakes that traders make when it comes to managing their risks. After all, if you’re not managing risk appropriately, you’re just a gambler. So if you’re ready to learn more about risk management, read on!
What is Risk Management in Trading?
Risk management is the process of assessing, controlling, and managing risk within a trading portfolio. This involves defining trading goals and understanding potential losses that could occur as part of the trading process.
It also includes identifying potential risks, such as market volatility or sudden changes in the market, understanding how these risks can affect your profits, and taking steps to limit potential losses.
In general, risk management should be a priority for all traders. By properly managing your risks and using effective strategies, you can minimize potential losses and increase the chances of making successful trades.
Common Mistakes When Managing Risk in Trading
Unfortunately, many traders make mistakes when it comes to managing their risks. Here are some of the most common mistakes that traders make when it comes to risk management:
Not Setting a Trading Plan:
Many traders don’t have a detailed trading plan, which is a key component of risk management. Without a trading plan, traders are more likely to take risks that could have otherwise been avoided. It’s important to establish clear trading goals and a plan for how to reach those goals.
Not Understanding Risk:
Many traders fail to understand the risks associated with certain trades, which can lead to serious losses if they don’t take the time to research and understand the risks involved. It’s important to have a thorough understanding of the markets you’re trading in before taking any risks.
Not Taking Advantage of Stop Losses:
Stop losses are an essential component of risk management, as they help to limit potential losses in the event of a market downturn or sudden changes in the market. However, many traders don’t take advantage of stop losses and end up taking larger risks than necessary.
Over-Trading:
Over-trading is a common mistake made by many traders. This involves taking too many trades, which can lead to losses if the market turns against you. Look, all traders love the price action. It’s exciting to take a position and watch your P/L go up and down. But don’t become addicted to the price action for the sake of just having a position. It’s important to only take trades when the setup is right and avoid over trading.
Not Diversifying Risk:
Diversification is another important part of risk management. By diversifying your trades, you can spread out risk and limit potential losses if the market turns against you.
Why is Risk Management Important in Trading?
Risk management is a critical factor in success when trading in the markets. It involves understanding and controlling what could potentially impact your trades and actively analyzing scenarios that may occur.
Without proper risk management, traders are leaving themselves vulnerable to potential losses which could be catastrophic for their investments.
Good risk management also allows traders to effectively assess opportunities and make better decisions that take into account volatility or leading indicators of future market performance.
Simply put, risk management can provide peace of mind so traders can enjoy the highs of profitable investments while minimizing losses when markets start to dip.
What are Some Common Risk Management Strategies?
Common risk management strategies used by traders include setting stop-loss orders, limiting capital exposure, and diversifying investments to minimize volatility.
Another essential approach for traders is to set predetermined targets for both profits and losses to help stabilize your exposure. To further limit potential losses and maximize gains, traders should always be aware of economic news and other world events that might affect the market.
How to Implement Risk Management in your Trading Plan
Implementing effective risk management into your trading plan is incredibly important for successful and profitable trading. It can help you to control the amount of draws you take in any given trade, and it can also protect against large losses which could potentially wipe out your entire trading account.
A good risk management plan should include determining the amount of capital at risk on each trade, setting predetermined stop-losses to limit downside exposure, and having a strict, disciplined approach towards minimizing losses:
never increasing position size
never risking more than you are comfortable with, and always controlling potential risk-reward ratios.
Taking the time to set up a comprehensive yet flexible risk management plan will put you in a better position when it comes to positive returns in the long run.
Risk management is an important part of trading. It allows you to trade with less stress and more confidence. There are many different risk management strategies, so it is important to find one that fits your trading style.
Proper risk management can help you make money in the long run by preserving your capital and preventing you from making careless mistakes.
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