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I think my risk management is a bit off


Discussion in Psychology and Money Management

Updated by bobwest
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I think my risk management is a bit off

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  #1 (permalink)
Nairobi, Kenya
 
 
Posts: 18 since Mar 2018
Thanks: 12 given, 26 received

Hi Mike, it's been a while since I was here. I have been struggling as a trader for five years now and I decided to take a break, and go back to the drawing board and fortunately learned a lot and continue to.
I actively participate in the FX market(day trading) and this year has been good coz now I understand how FX moves and what to look out for - I mean in terms of fundamentals and sentiment and I have been using this approach quite well, that is I get to have winning trades which I actually understand why they worked and losing trades which I also understand why they didn't. I have been doing this on demo but regardless of this I am still not profitable overall and I think my risk management is a bit off. I was wondering whether I can send you my trading report/statement so that u or anyone who's experienced can have a look and advice accordingly. I intend to join a prop once I tackle the current challenge.

Thank you!
Regards, Dennis

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  #2 (permalink)
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Mwenga View Post
Hi Mike, it's been a while since I was here. I have been struggling as a trader for five years now and I decided to take a break, and go back to the drawing board and fortunately learned a lot and continue to.
I actively participate in the FX market(day trading) and this year has been good coz now I understand how FX moves and what to look out for - I mean in terms of fundamentals and sentiment and I have been using this approach quite well, that is I get to have winning trades which I actually understand why they worked and losing trades which I also understand why they didn't. I have been doing this on demo but regardless of this I am still not profitable overall and I think my risk management is a bit off. I was wondering whether I can send you my trading report/statement so that u or anyone who's experienced can have a look and advice accordingly. I intend to join a prop once I tackle the current challenge.

Thank you!
Regards, Dennis

I don't know if anyone will be interested in looking over your statements, but there are experienced traders here who can help with risk management issues, if you can be more specific about what you are encountering.

Bob.

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