Posts Tagged ‘Top Dog Trading’
Risk and Your Forex Trading Style
Tuesday, June 23rd, 2009The most valuable part of any style of investing, is being aware of what level of risk you are comfortable with. Without a good comprehension of this, it will be way too easy for you to loose all your capital. Every Forex trading strategy carries its own risk parameters and these tie in directly with your risk tolerance. Then there is your trading approach, conservative, moderate, and aggressive.
Initially you may decide to trade a day chart. The bar movement over a day can be hundreds of pips, so when you protect your position you have to assess what your drawdown limits are. If your money management is set at a 3% funds exposure, you will get into problems on day charts unless your account is large.
The 5M or 30M charts maybe more suitable since the pip range tends to be less, so your stop strategies can fall within your management margins.
Yes, we all want increase our wealth from out trades, but risking ones account to large stop positions and large draw-downs is going to clean out your account and trading career in the blink of an eye.
A practical risk level is 3% or $300 on a $10,000 account. Convert this to pips, 1 standard lot ($100,000) has a pip value of $10 so if you trade end of day and your stop loss placement, whether count-back or support and resistance or any other, determines a 100 pip stop position, then you are not risking 3% but 30%! Three reversed trades and your account has gone!
An aggressive trader is open to taking riskier trades that a conservative trader. They will expose bigger sums or money in riskier trades with the hope of achieving larger returns – often over longer trading time frames but they may still use the similar strategies for shorter times as well. Very much the ’all risk’ trader.
So where do you think you sit? Are you a level headed trader with appropriate money management and risk rates, or a trader that will take over the top risks with all or nothing gains? If you are the latter, you won’t be around for long, that’s a guarantee.
If any of this leaves you a bit bewildered, you need to gain some knowledge, so begin by getting your Forex training with Top Dog Trading, you will learn a huge amount and it will help you trade with safety to win pips not risk everything.
Never trade without having all of the facts! Click Here To Get Your FREE Five Day Video Trading Course
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Learn Forex Trading: Top Dog Trading Review
Monday, June 8th, 2009
FREE 5 Day Video Trading Course
When I started trading Forex markets, I quickly realized that fundamental analysis was not an system I could use, but analyzing charts and their patterns was what I preferred. Query ‘Technical Analysis’ on the net and you will be inundated with options, but after much investigation I discovered Top Dog Trading.
What made me decide to take this course to learn Forex trading?…. A number of things besides the absolute necessity to trade better and stop making too many losses that hurt; was that I understood what Dr Barry Burns was imparting on his website and much or the instruction is reinforced on heaps of videos which makes it much easier to follow his chart interpretations. The other very important criteria for me is the background of the educator and creator of the teaching materials. Barry’s CV is impressive, a business man who trades professionally, he is also a highly regarded speaker and writer.
So I signed up for his free 5 video course to see if I felt good about his analysis systems.
Leading up to this, I had studied several other courses on technical analysis relating to Forex trading but even after all of these felt there were gaps in my knowledge that would help me trade successfully, all this changed once I came across Dr Barry Burns, I now feel confident that I can make the business of trading a success.
Having completed Barry’s courses I have not only learned how to execute his methods but also embraced a far deeper understanding of the Forex market & the charts and probably more importantly the money management and personal attitudes that are such an important part of becoming a profitable Forex trader.
You will find Barry explains the principals simply and clearly, then gives real chart examples with all their confounding moves showing how to apply the rules for positive trades. This is all achieved via an expansive selection of videos.
Provided you follow the principals Barry explores, you will end up with a very profitable ratio of winning trades with tight control on the losses, so when one does have a losing trade (which even the best traders do) the hurt is not too great.
Barry’s courses are the best Forex trading courses that I have found and I would highly recommend that you give his FREE course a go. This freebie has 5 videos that introduce you to some of the most powerful trading material I’ve ever seen.
I personally took the course, loved it, and learned a lot from it and have gone on to Barry’s more advanced courses. My wish to learn Forex trading has turned out to be very profitable.
Explore the Free 5 Day Video Trading Course for yourself:
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