Đào tạo

Maximum Drawdown

FX:GBPUSD   Bảng Anh/ Đô la Mỹ
Drawdowns on your account are part of trading but if you establish a trading plan then it will enable you to survive these losses and not wipe out your account.
What do you think is the best way to utilizing one's entire capital? if say I use 2% a trade, do you think it's ok to open 50 trades? I know it's very hard to manage 50 trades but theoretically, how does it sound like in terms of risk management?
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nice correlations

for me it was quite personal, as in why did I need to embrace so much risk exposure and why did I keep breaking my own trading rules?

revenge trading, doubling down, not getting out, so many red flags in the beginning

if i may add, journaling is a must, you can't regroup with yourself if you are not speaking in detail from the past

a trader that doesn't journal while not trying to minimize risk exposure will usually fail until he/she does

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Thats very good reference material if someone wants to check on Drawdowns..All the Best !
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if i have balance 1000USD, with leverage 500. should i use 0.5 lot to entry or 0.05 to entry?
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Tradewonk valdeano
@valdeano, doesn't matter how big your account is, i do not recommend to risk more than 2-3% per trade. here is a calculator you can use.
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valdeano Tradewonk
@Tradewonk, thanks, one question more. are you do some averaging position/ split position into 2 or 3 position, or only using one open position ?
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valdeano valdeano
@valdeano, for example : split position into 3-5 pending order in supply demand area. or only using one position?
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Tradewonk valdeano
@valdeano, normally one, but if there is a very good setup, i open two. first one i tp at 1:1.5/1:2 and then set the other one to break even, and let profit run.
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This splendid advice is one of the most basic yet underappreciated issues, especially for beginning traders.
As you eloquently put it, understanding that every step down in your account equity requires substantial and increasing effort as well commitment to break even again (which some traders mistakenly feel compelled to translate into taking on greater risk, with sometimes disastrous consequences for one's total equity).

Do yourself a favour and listen to tradewonk's advice here, manage your assets and risk properly, and protect your profits at all costs.

Good on ya, tradewonk!

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