Manage Your Foreign Currency Risk CD with Mike Mc Mahon
Risk Management is the answer to it all. Learn how not to lose money and focus on the trade – profits take care of themselves
Risk management is the least understood and most important tool for traders
There is only one coin in the market – on one side is reward and the other there is risk. You cannot have more reward without accepting more risk – it is axiomatic.
In this program, Mike Mc Mahon will take you through the concept of Risk, the management of Risk and the control of Risk with step by step details.
You will explore and understand:
- You will learn how the Forex Pros make money in the this global market
- Learn the proper use of stop loss
- Learn how to place a stop
- Learn where to place a stop
- Learn to use a pre-determined percentage of the account value to define risk
- Understand the proper use of trailing stops
- Understand how theories like Fibonacci Retracement can reduce your risk
- Learn how to use multiple technical analysis to determine where your best stop should be
This course continues beyond this into discussions of Trailing Stops, Money Management, Position sizing and more. Mike will discuss some of the emotional and psychological pitfalls and, more importantly, how to avoid them.
If you look across the span of successful Forex traders, you will note that they all have interesting and divergent “set-up” or trading plans – some use charting, some use fundamentals. Others believe in Elliott wave theory or Chaos theory - but to a person, they all share the successful trait of understanding and controlling risk. They have all learned (mostly the hard way!) that currency trading is not about making money but rather learning not to lose it!
They all understand that success in Forex lies in good risk management. This course will also provide you with a 10 step list of Trade Plan Discipline Rules – a “must have” in your overall Business/Trade Plan. Isn’t it time you learned how to “Not Lose Money”? That is the true heart of the professional trader – Learn Risk Management first.
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