I did not trade on Monday. No good setup, and it was public holiday in U.S.
Tony Juste from Fxstreet.com posted a presentation on money management in the forum of Fxstreet.com. It is called ‘Effective Cost’ Technique. The outline as follow:
- It is a defensive technique. It is based on the probabilities of success of a particular position initiated.
- It was built to prepare for the worst-case trading scenarios It allows for moderate profits while attempts to keep losses under control.
- Allows a trader to determine the stop loss level:
- Based on equity drawdown
- Based on technical triggers