Still other traders might trade in a fixed amount or number of lots. All of these position sizing strategies can be used effectively to manage your money when trading forex, so choose one and apply it consistently. Many traders prefer to keep a large portion of their trading account funds in reserve so that they can recover faster from any significant losses, rather than putting all of their trading capital at risk at once.
For example, a forex broker commission calculator trader might avoid putting more than ten percent of their trading capital at risk at any one time across all their open positions. Thus, even if they suffer a full ten percent drawdown on the funds placed at risk, they still the remaining ninety percent of funds in the trading account. Putting a substantially large percentage of their account at risk might make fund recovery in the case of loss virtually impossible, or at least impractical, thereby effectively putting the trader out of business.
Know when to exit the trade before you enter a trade. The analysis performed before entering into a trade should give the trader a clear idea of where they expect the market to move to so that forex broker commission calculator they can take profits on the trade, in addition to where they would cut their losses in the event of an adverse market move.
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