April 1st, 2009

Currency Trading Insurance

Written by Kirk | 2 Comments

Topics: Planning A Trading Career, Trading Strategies

Here are some examples of Currency Trading Insurances:

1. Use a stop Loss
2. Only trading a small set % or your account 1%, 2%, 3%, 5% on any one trade
3. Only trading a total amount of your account at any one time. 5%, 10% … your choice
4. Keeping the Margin level % above 1000%
    (you chose the level of coverage you want)
5. If your Margin Level % drops down to 500% close all of your open trades.
6. Take the total amount you have for trading and put ½ in a savings account
 then put the other ½ in you trading account.  This way you will have some
 money to trade with if you lose you trading account.
7. Never add money to your account to cover a margin call.
8. If your account has a draw down of 10% you stop trading until you figure out
 what you are doing wrong, or what you have changed from when you were making money.
 

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Comments

2 Responses to “Currency Trading Insurance”

  1. downloadfx on April 9th, 2009 9:12 am

    great advice from Kirk…forex trading is absolutely risky…but if we stick with our plan, we can minimize the loss and maximize the profit consistently…keep it up,thanks..:)

  2. Raghu mukesh on October 31st, 2011 2:12 am

    Hai Mr.Kirk, Your advice is really good and which broker is giving a option with this terms and insurance.Looking forward.Call me whenever you like

    Regards
    Raghu mukesh
    +919629269668

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