This post will be devoted to the details of moving along these steps from the beginner to expert.
Author: Dmitriy Gurkovskiy
For many traders, the publication of the book "Trading Chaos: Maximize Profits with Proven Technical Techniques" was the moment of changing the old paradigm of trading, understanding, and interpreting the market, understanding the trader's place on the market and right behavior in trading.
Today, we will speak about the R WebTrader terminal that meets all the requirements and have useful additional functions.
Swing trading is an approach to financial markets that appeared quite a long time ago. It should be3 noted that this is not a system but a style of trading. This means it can contain several tactics and strategies of market behavior.
On Forex, under a signal, we mean a complex of circumstances, indicators, and events that show the trader in which direction they should open a trade, in other words, whether they should buy or sell.
A drawdown is a decrease in the balance and equity on the trading account; to put it simpler, a drawdown is a loss. Drawdowns can be of two types: floating and fixed.
Each of the models discussed reflects the most frequent approaches of traders to money management. We will have a look at both the advantages and drawbacks of the systems. The most experienced and skillful traders sometimes mix these models, however, only in compliance with their trading strategies.
The Trailing Stop is a much flexible and comfortable way of using the Stop Loss. With this instrument, the trader gets an opportunity to use the whole potential of the market movement, simultaneously reducing the risk of large losses.
Beginner traders usually consider money management to be some dull paperwork; outwitting and conquering the market for a short-term profit seems much more exciting. Short-term effects give you the feeling of a victory but are very few. Such an approach tends to end up in a failure as it is, in essence, playing with the market but not a serious systematic approach. And after the trader realizes that trading requires a strategy and a plan, they start to consider studying some money management models.
Everyone who comes to the market craving for money thinks that they will be among that 10 % of successful traders that can be called "cream of the cream". Such a way of thinking is logical and natural, because — who will ever aim at bad results? Well, a question emerges then: where do the remaining 90% appear from? What happens to them next? Why do these statistics of 90% losing traders against 10% gaining ones exist at all?