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One of the cardinal rules of Forex trading is to keep your losses small. With small Forex trading losses, you can outlast those times the market moves against you, and be well positioned for when the trend turns around. The proven method to keeping your losses small is to set your maximum loss before you even open a Forex trading position. The maximum loss is the greatest amount of capital that you are comfortable losing on any one trade. With your maximum loss set as a small percentage of your Forex trading float, a string of losses won`t stop you from trading. Unlike the 95% of Forex traders out there who lose money because they haven`t applied good money management rules to their Forex trading system, you will be far down the road to success with this money management rule. What happens if you don`t set a maximum loss? Let`s look at an example. If I had a Forex trading float of $1000, and I began trading with $100 a trade, it would be reasonable to experience three losses in a row. This would reduce my Forex trading capital to $700. What do you think those 95% of traders say at this time? They would reason, “Well, I`ve already had three losses in a row. So I`m really due for a win now.” They would decide they`re going to bet $300 on the next trade because they think they have a higher chance of winning. If that trader did bet $300 dollars on the next trade because they thought they were going to win, their capital could be reduced to $400 dollars. Their chances of making money now are very slim. They would need to make 150% on their next trade just to break even. If they had set their maximum loss, and stuck to that decision, they would not be in this position. Here`s a perfect illustration why most people lose money in the Forex trading market. Let`s start out with another $1,000 float, and begin our Forex trading with $250. After only three losses in a row, we`ve lost $750, and our capital has been reduced to $250. Effectively, we must make 300% return on the next trade and that will allow us to break even. In both of these cases, the reason for failure was because the trader risked too much, and didn`t apply good money management. Remember, the goal here is to keep our losses as small as possible while also making sure that we open a large enough position to capitalize on profits. With your money management rules in place, in your Forex trading system, you will always be able to do this. About The Author David Jenyns is recognized as the leading expert when it comes to designing profitable stock trading systems. Discover the "secret formula" of trading that anyone can use to consistently generate BIG profits from the market by downloading your FREE copy of David's new Ultimate Stock Trading Systems course. Click Here To Download ==> Stock Trading Systems
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Against the yen, the dollar moved little at 79.38 yen , off three-month low of 79.002 hit on Friday, with traders focusing on the Bank of Japan's two-day policy meeting starting on Tuesday. Although most market players expect the BOJ to keep its ...
Read moreFOREX-Euro rebound stalls, focus shifts to EU summit
FXstreet.com (Córdoba) - As the Dollar gathers pace ahead of the Wall Street opening, USD/CHF has managed to extend its recovery from a 6-day low of 0.9373 struck during the Asian trade, to reach a fresh daily high of 0.9425 in recent dealings.
Read moreForex: USD/CHF recovers from 6-day low
2012 “FXstreet.com. The Forex Market” All Rights Reserved. Every effort is made to provide accurate and complete information. However, with the thousands of documents available, often uploaded within short deadlines, we cannot guarantee that there will ...
Read moreForex: AUD/NZD at session lows; ignores Fonterra forecast
It last traded down on the day at 10.95 percent. Traders said demand for downside strikes in euro/dollar continued, especially in the $1.20 area. "I still think (the euro) is a sell on rallies, not just against the dollar but also the yen," said ...
Read moreFOREX-Euro rebounds vs dollar ahead of EU meeting
FXstreet.com (San Francisco) - The EUR/USD gained ground for a second consecutive day on Monday, climbing above the 1.2800 ... 2012 “FXstreet.com. The Forex Market” All Rights Reserved. Every effort is made to provide accurate and complete information.
Read moreForex: EUR/USD upward correction set to extend – V.Bednarik
It last traded down on the day at 11.38 percent. Traders said demand for downside strikes in euro/dollar continued, especially in the $1.20 area. "I still think (the euro) is a sell on rallies, not just against the dollar but also the yen," said ...
Read moreFOREX-Euro edges up as focus shifts to EU meeting
FXstreet.com (San Francisco) - Risk sentiment has gotten a boost across the board late in the trading day, as the dollar is broadly weaker following a late-afternoon push in equities to session highs, helping to ignite short covering in the EUR/USD.
Read moreForex: U.S. dollar softens; euro pushes higher
LONDON, UNITED KINGDOM -- (Marketwire) -- 05/21/12 -- For MetaTrader 4 traders seeking the ideal Expert Advisor to automate part or all of their Forex trading process, Vantage FX UK (http://www.vantagefx.co.uk/) has the solution. The company ...
Read moreTry a New Approach to Forex Trading With Vantage FX UK
As we noted earlier in the month, our medium-to-long term bias remains weighted to the topside with long entries favored between the 200-day moving average at 78.50 and the 61.8% Fibonacci retracement taken from the February advance at 79.15.
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