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Risk And Money Management In FOREX Tradding

Risk And Money Management In FOREX Tradding (5)

When the discussion turns to the use of Stop Loss orders, you can be confident that a division will occur between all the participants of the discussion, as they are first divided on whether to use stops, and then those who say we should, are therefore divided again on how to use them in everyday trading.
The lure of making big money by way of trading Futures and Commodities is strong, and usually the main focus of every new trader. The amount of time and effort expended in learning the mechanics of trading by each new participant varies, depending on the degree of desire and the time available.
It is a fact that a great majority of traders feel that knowing all the moves in advance, or having some indicators that cross over each other giving buy and sell signals is all that is necessary to succeed in this market. Nothing could be further from reality.
My first investment was a two bedroom, two bath apartment in a doorman building on the upper east side of Manhattan. The purchase price in 1988 was $240,000. My down payment (investment) was 25% or $60,000. Around the same time my friend bought 5 of the exact same apartments from anxious sellers willing to finance 95% of the $240,000 purchase price. My friend's total down payment (investment) was also $60,000.
Technical traders cannot ignore the fact that predictable, directional, profitable currency moves oftentimes follow the release of economic indicators that are materially different than consensus forecast. Last Friday’s non-farm payroll is a good example; number was significantly higher than forecast and USD rose more than 1% in minutes and almost 2% in a few short hours.
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