Capital management is one of the most basic concepts in Forex and trading. There are many people who, with proper capital management, make a profit even when they do not enter into a deal on time. In general, capital management is very simple and transparent. Although they are simple and you may have seen or heard them many times, it is difficult for most people to follow these simple things!
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Most of the world’s major traders believe that mind control and behavior are far more important than technical knowledge. The main part of capital management is peace of mind and control of inner emotions. Here are five key pointers in moving forward.
Table of Contents
The amount of leverage
According to our definition of leverage in the field of capital management, it is better to set this amount of leverage or leverage coefficient on a low value to avoid mistakes and heavy losses . We suggest you the number 1:25 or 1:50. The more professional and experienced you become, the better you can adjust this amount, but to get started, be sure to reduce this amount to avoid opening too many trades. Opening a large number of trades puts you at risk of being marginalized, meaning that all of your capital may be lost.
Transaction volume (lot) and capital management
If you are not familiar with the definition and concept of trading volume or so-called lot, you can read the basic concepts of Forex . You can use a very good myfxbook tool to calculate how much better it is to enter into a trade . In this tool, you can enter your account balance and the amount of risk, as well as the size of the stop loss (stop loss) so that this site calculates the most appropriate trading volume for you. To begin with, never risk more than 1 to 2 percent of your capital and do not enter into a deal.
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Stop loss and capital management
The loss limit in a trade determines how much risk and loss you have accepted in that trade. When you do not set a loss limit, it means you have no problem until all your capital is at a loss!
Unfortunately, this has become common among some traders who enter the trade without considering the capital management and without determining the loss limit, and usually lose their entry into the capital market in the first month. Be sure to set a loss limit for your transaction so that you do not lose more than 1 to 2 percent of your capital in each transaction.
Adherence to trading strategy
Be sure to adhere to the strategy and law with which you trade and determine the profit and loss limit at the beginning of the transaction according to your method, and never change your profit and loss limit during the transaction without a reason and out of fear. Changing the profit or loss limit means that you have no specific plan in this market and you are almost trading on speculation. This is one of the main problems of people in capital management .
Enter multiple transactions simultaneously
If in the leverage section we told you friends not to open several trades at the same time, it is because you have risked 10% of your capital by opening, for example, 5 trades at the same time (assuming 2% risk of each trade), then it is very simple By continuing this process, you will quickly lose your capital. So by reducing the leverage and observing capital management, be sure to systematically prevent this, even if you want to open a few trades by mistake, the system will not allow you to do so. Capital management is one of the topics in the Forex alphabet course.
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