Tips and trick from traders on how to become a better trader.
Lesson 6 in The MarketClub Minute series is something no trader should be without. Click here to find out what it is and afterward, view Adam's Whiteboard Lesson 4 to learn more.
This is always a hot topic among new traders, so we invite you to share your methods in our comments section.
Best,
Adam and The MarketClub Team
As traders we tend to think the most important part of trading is making money. This is what we all want, but sometimes we don’t pay enough attention to what is really important and that is protecting our money.
You’ve heard the terms “stop-loss” and “money management” over and over. Most of us are familiar with the basics of a stop, but did you know that there are three different types that you can employ to protect your capital?
Today Adam is going to explain the three types of stops and their respective pros and cons. We invite you to click here and watch today to find out which will work for you and your trading style.
Enjoy!
The MarketClub Team
At MarketClub our mission is to help you become a better trader. Our passion is creating superior trading tools to help you achieve your goals -- no matter which way the markets move -- with objective and unbiased recommendations not available from brokers.
The Trader's Toolbox posts are just another free resource from MarketClub.
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"Crucial but often overlooked, money management practices can mean the difference between winning and losing in the markets.
-Amount Of Money To Risk- It’s difficult to come up with hard and fast money to risk on different markets and trades. For our purpose, though, it’s best to think conservatively. Although some studies suggest initially allocating equity in broad terms of original margin (40% to 50% of total equity committed to the markets at a given time in the form of original margin, 15% to a particular market, 5% to a single trade, etc.), many traders consider these percentages too high, and do not consider the market to be a accurate measure of risk or a sound basis on which to allocate funds, because a trader can always, technically, lose more than the margin amount. These traders find it more beneficial to think in terms of the actual money amount they are willing to lose on any particular trade or trades, determined by their stop level or through some other calculation..."
Revisit the Trader's Toolbox Post: "Money Management Part 2 of 4" here.
Adam reiterates one of his most important tips in today’s MarketClub Minute video. You only need to click here to find out what it is and implement it in your own trading strategy if you haven’t already.
Start watching now and leave a comment to tell us how you use this tool.
Best,
Adam and The MarketClub Team
What can kill your account faster than a recession? In this fourth installment of the MarketClub Minute, Adam reveals what this is and how to avoid it.
Click here to watch today’s MarketClub Minute video and let us know if you’ve had experiences with this “account killer” and how you overcame them in the comments section.
Best,
Adam and The MarketClub Team
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