Daily Trading System

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VIDEO 13
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Online Forex Brokers

Understanding the basic concepts of Money and Risk Management.

It's really not that difficult. It's like balanacing your checkbook!

Can you afford to buy desert for each days meals? No, do we still buy them? Sometimes :) But for most part we will wait until we have the money to venture out and have a nice cake after dinner, etc.

Know your market. Understand and pay close attention to the balance, equity, free margin within the Terminal, it'll give you an idea of how much you can afford based on the lot sizes you can chose to trade with.

Depending on the type of Live Real Money Forex Account you have and varying from Broker to Broker some will only allow 4 lots per trade or per account.

Once you've worked out how much free margin you have, ask yourself is the risk within your comfy zone. if it's not, reduce the lot size.

Beginners: I recommend trading at live real money account with say, $100 in the account and only trading lot sizes of 0.01 large, which will equate to either 10 cents or 1 cent depending the type of micro account you have with the broker.

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