I make a living out of trading in forex and this website is a diary of my trades and things I plan to execute the each day. You can use my signals to use
Money management and Trading Rules
Sun, 10/11/2009 - 20:50 — sunilNever risk more than 2% of your money in 1 trade.
One of the most important aspect of forex trading is money management.
I open 3 lots/3 Mini lots per trade.
Always have a stoploss for everytrade.
If I risk x pips on a trade my take profit 1 will be x pips.
When take profit 1 is hit one lot is closed and and move the stoploss on the other two lots to breakeven. This way we have locked in profits on the trade.
