Trade Books Examples
Whether you are investing in shares, futures, forex or options, you know there are many ways to do business. With all schools of different educational systems, methods and strategies, it is sometimes difficult to distinguish who is the most powerful among them?
Almost all business books and seminars on negotiation that I met who failed to note is the most powerful of them all Money Management.
What the money management? In short, the preservation of your capital and keep you in the market for long. You can find the strategy that you have the highest percentage return as soon as possible, but if you do not have a good system management of money, it will not be for long as you enjoyed the market.
In my first years in business, I ran after trading books, seminars, workshop to find the best way to capitalize on the market. It was until one day when I had nothing to do when the market was not open to negotiation, I learned that the most important strategy in the Negotiation is managing your money.
Some may wonder, how did I concluded that the most important is money management?
I makes a calculation to prove to myself.
Suppose I start trading using 10 000 $. And my system of money management is 10-10-30. That means, the first "10" represent that I will not put more than 10% of my capital in one trade. The second "10" represents the maximum I am willing to risk my investment. In other words, my stop is 10%.
The "30" is the profit target I I'm set. So what this means is I'll quit my job once I hit my profit target of 30%.
I try putting the system on a method of trading accuracy 60/40 (60% loss trades/40% winning trades). And guess what? If correct, based on this system management of money and stick to it strictly, I am able to make a portfolio net of 6% growth based on 10 trades.
Based Capital hypothetical departure of $ 10 000, the example shows that I lost $ 600 in 6 trades, but I take $ 1, 200 in just 4 trades. Compared to net income is $ 600 or 6%.
This is when people always ask me: "What is the most powerful strategy you use for Trade? "My answer always is the money management.
Different people have different risk tolerance. There is no system of money management which suits everyone. I suggest you take some time to review your management system money and if you do not, you MUST start one!
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Article Source: ArticlesBase.com – The Most Important Trading Strategy That No Traders Can Afford not to Know
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