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In this Da Nang Forex trading vlog, I share with you the 5 most important rules I have in my trading & life when it comes to money management. These are things that, if well managed, can help you reach the $10k/month revenue mark quicker. Vlog #456
Executive Summary:
1) Create a money management framework for financial freedom
2) Only use Active Investment money for trading.
3) Define your maximum drawdown
4) Use break-even, trailing stops, multiple t/p to boost your results
5) If you can’t stick to your risk/money management plan, skip the trade
Video on risk management: https://www.youtube.com/watch?v=k_cz1p9aZ8Q
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// ABOUT ME
My name is Etienne Crete (from Montreal, Canada). I’m a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That’s why you can expect more free content from me than what other people charge for!
If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you’re good at.
// Disclaimer
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.
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What I use to edit: Final Cut Pro (Mac)
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What's your favorite MONEY management rule?
Thanks. Very helpful guide on MM
Bullshit
🎯💪🏼
Thanks E not moving stops it's a cross over between risk management sticking to you strategy.
And if you invest 50% active? You speed up the proces right (if you know how to trade tough)
In how much capital?
Trading constantly every week just seems to be the secret of wealth… Thanks to the platform anyways, they are the real help
👍
Good info thank you.
As I was watching, I noticed your left eye blinks often, while your right eye does not.
Your music intros sound really nice! From SoundCloud?
People in the comments asking the wrong questions
10k a month following these rules..!!! You need a huge amount of capital as a starting point to make this amount of money consistently. Most successful hedge funds make 5% a month so go figure..
No rules will help you unless you have the capital.. Not a good idea to put $$ signs to entice people.
That said most of your message is relevant to be successful and consistent.
Do you have a track record?
how much do you risk per trade personaly
Good stuff! Great advices!