This may be my quick version of forex money management, but there is nothing more important. As I
have been told over and over again, any one can get into a currency trade, but those who are
profitable forex traders know when to exit a trade.
This is for profits as well as loses!
I find that the best forex trades I put on are those trades where my emotions are not a factor in
the currency trade to begin with. To do this there are some basic principals I follow regardless
of the strategy or time period I am trading.
•I set a pip goal for the trade based on my trade plan and technicals. If you do not have a trade
plan where you have outlined your currency trading goals and objectives then stop reading this
blog and create one now!
have been told over and over again, any one can get into a currency trade, but those who are
profitable forex traders know when to exit a trade.
This is for profits as well as loses!
I find that the best forex trades I put on are those trades where my emotions are not a factor in
the currency trade to begin with. To do this there are some basic principals I follow regardless
of the strategy or time period I am trading.
•I set a pip goal for the trade based on my trade plan and technicals. If you do not have a trade
plan where you have outlined your currency trading goals and objectives then stop reading this
blog and create one now!
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