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Thread: Flexible Money Management [Contest]

  1. #1
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    Flexible Money Management [Contest]

    My Strategy: Flexible Money Management.

    Account Information:

    Account No. : 2190311
    Investor password: 123asd
    Server: Roboforex demo
    Trading Style: Swing and long term.
    Time Frame: D1, W1 or MN
    Currency Pair: All

    Description:

    I mainly focus only on money management. Here I have shown how to reduce our loss using hedge and how we can extend our profit by adding volume. This strategy works well for Swing and Long term trader but it is flexible enough for day traders even for scalpers. To test my strategy I opened a demo account with deposit of 10000$.

    Entry, Exit and Flexibility:

    Generally I'll open a trade with volume of 0.4 lot with profit target of 800$ and maximum possible loss 800$ for all pairs except TRY, ZAR, AU and AG pairs. For those high volatile pairs I'll open trade with volume of 0.2 lot. I'll use either "Use of Pin Bar indicator in 50:50 trading" or "Scalping using trending candles" strategy to open a position. I'll open 6 more pending orders immediately after opening a position for minimizing loss and maximizing profit.

    Attachment 10762

    For losing trade:

    I will place 3 pending orders opposite to open position. If I am longing then my pending orders will be short.

    1st pending order(stop order):
    It will be placed at such price that will be triggered if floating loss is 200$ from the active trade. The volume of the order will be 1/4 of first opened trade with profit target of 150$ and maximum possible loss of 50$. It means I have applied 25% hedging. Both TP and SL will be set for those values.

    2nd pending order(stop order):
    It will be placed at such price that will be triggered if floating loss is 400$ from the first trade. The volume of the order will be 1/4 of first opened trade with profit target of 100$ and maximum possible loss of 50$. It means I have total 50% hedging. Both TP and SL will be set for those values.

    3rd pending order(stop order):
    It will be placed at such price that will be triggered if floating loss is 600$ from the first trade. The volume of the order will be 1/4 of first opened trade with profit target of 50$ and maximum possible loss of 50$. It means I have total 75% hedging. Both TP and SL will be set for those values.

    For wining trade:

    I will place 3 pending orders in the same direction of active order. If I am longing then my pending orders will be long also.

    1st pending order(stop order):
    It will be placed at such price that will be triggered if floating profit is 200$ from the active trade. The volume of the order will be 1/4 of first opened trade with profit target of 150$ and maximum possible loss of 50$. It means I have added 25% lots. Both TP and SL will be set for those values.

    2nd pending order(stop order):
    It will be placed at such price that will be triggered if floating profit is 400$ from the first trade. The volume of the order will be 1/4 of first opened trade with profit target of 100$ and maximum possible loss of 50$. It means I have added total 50% lots. Both TP and SL will be set for those values.

    3rd pending order(stop order):
    It will be placed at such price that will be triggered if floating profit is 600$ from the first trade. The volume of the order will be 1/4 of first opened trade with profit target of 50$ and maximum possible loss of 50$. It means I have added total 75% lots. Both TP and SL will be set for those values.


    Necessary adjustment:

    It is possible that triggered pending orders with 1/4th volume hit SL very frequently as SL's are set closer. In that case new pending orders might be placed again.


    Money management:

    Maximum possible loss for the trade is 8% initially. If all the pending orders are triggered and goes till the end loss value might be different.
    Maximum possible profit from the trade will be 11% if all pending orders along with first opened orders hit the TP.

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    Last edited by Value trader; 06-07-2014 at 07:52 PM.

  2. #1091
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    Making our stop loss flexible does not mean we should be using a method of shifting our stop loss whenever the price comes towards it, but I believe that making our stop loss flexible means that we should try as much as possible to set it at the appropriate levels and making sure that they are not at easy reach of the market prices and whenever the price starts moving positively in our favour then we can start shifting it to break even so as to have risk free trades on the market. Having a flexible stop will most times lead to having a wonderful trading outcomes.

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  3. #1092
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    Money management is an aspect we need to pay good attention to, if we don't use a good money management in our trading we can easily lose money to the market, so it's important we pay good attention to this aspect of trading, though this is not all we need for a successful forex trading, but when it's come to this aspect of money management we really need to take it serious.

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  4. #1093
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    Quote Originally Posted by stanlon View Post
    Money management is an aspect we need to pay good attention to, if we don't use a good money management in our trading we can easily lose money to the market, so it's important we pay good attention to this aspect of trading, though this is not all we need for a successful forex trading, but when it's come to this aspect of money management we really need to take it serious.
    in my opinion money menagement is very important in trading, maybe for some money menagement traders is not important, but for my own money management is very important in trading, money management can also be the key to success by the trader itself, we all know, if all business definitely requires money management, as well as forex trading, because forex trading is also a business.

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  5. #1094
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    Quote Originally Posted by stanlon View Post
    Money management is an aspect we need to pay good attention to, if we don't use a good money management in our trading we can easily lose money to the market, so it's important we pay good attention to this aspect of trading, though this is not all we need for a successful forex trading, but when it's come to this aspect of money management we really need to take it serious.
    I am agree with you , this is the important aspect to be good in management skills so we should use the better trade skills and having the better knowledge on the basic aspects that are effective to trade better and through the better experience we will do better job with it so we should be good to manage the risks and money that important to take the better results and gain success surely .

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  6. #1095
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    Money management is always important, if we don't care about the safety of our investment then we are not ready to become successful yet, we must protect our capital at all means before we can survive in this market, so money management is very important basics aspect that must be taken serious at all time because we cannot survive without money management.

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