SniperForexTrader

Surfing the net searching for more information about money management, I found an article that I find very well written and clear, I could not explain it better the importance of money management and risk management when trading the forex market.
The author of the article express it very nicely:

“Many beginning traders who attempt to make big money currency trading fall into the trap of unrealistic expectations”

I am sharing with you the link to his article so you can read it completely and I hope you will like it as much as I did.

http://www.fxtradingsecrets.com/what-will-it-take-to-make-500-per-day-currency-trading/

Good trading!

Today I received an email for the weekly example of trade from Vic Noble, this video talk about micro-accounts and money management.

To be honest this is the first time I get the importance and advantage of using micro-accounts when we don’t have thousands and thousands of dollars in our account.

Basically this type of account let us to have a reasonable Stop Loss distance , let’s say 20 to 30 pips (from support or resistance,my personal advice is not taking those numbers randomly), trading 5 lots will allow us to still making interesting profits ($.50 per pip).

Please watch this video carefully, pause it if necessary, take notes, make your numbers and you’ll decide for your self.

After having taken a private session with Vic Noble and have learned how to trade his methodology the “Noble entry” I can say that my entries are of a lower risk, better placed and since these are “entry limits” I have no need to stay watching my charts for hours, it makes life easier and safe.

The noble entry works using market flow, support/resistance levels and MACD (for me this indicator is optional really) and obviously a top-down analysis.

Works really well, so far I have not lost a trade however I have been using it for just 2 weeks, I find an opportunity almost every day which I find nice, I totally recommend this technique for any trader struggling with consistency….Do you think is there any?

Good trading!