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    How To Not Blow Up Your Trading Account: Definitive Guide to Money and Risk Management For Forex Traders
    How To Not Blow Up Your Trading Account: Definitive Guide to Money and Risk Management For Forex Traders
    How To Not Blow Up Your Trading Account: Definitive Guide to Money and Risk Management For Forex Traders
    Ebook49 pages43 minutes

    How To Not Blow Up Your Trading Account: Definitive Guide to Money and Risk Management For Forex Traders

    By Erick Vavretchek

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    About this ebook

    Learning proper money and risk management is key to achieving success in the markets. These skills will help you build a solid and long-lasting foundation for a prosperous trading career.
    LanguageEnglish
    PublisherBookBaby
    Release dateFeb 21, 2013
    ISBN9780987484314
    How To Not Blow Up Your Trading Account: Definitive Guide to Money and Risk Management For Forex Traders

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    Book preview

    How To Not Blow Up Your Trading Account - Erick Vavretchek

    Copyright © 2013 Erick Vavretchek

    All rights reserved. No part of this book may be reproduced in any form or by any electronic or mechanical means, including information storage and retrieval systems, without permission in writing from the publisher, except by a reviewer, who may quote one paragraph passages in a review.

    You miss 100% of the shots you don’t take

    – Wayne Gretzky

    Table of Contents

    Cover

    Acknowledgments

    Foreword

    Intro

    What Is Money Management Risk Management

    Why Is It So Important

    Why Traders Lose Money

    Leverage And Margin, Finally Understand What It Is And How It Affects Your Trading

    Trading Account Vs. Bank Account

    Position Size

    Details On How To Calculate Position Size And Value Per Pip Based On Your Risk

    Essential Tool For Trading

    Final Thoughts

    What Is A Pip

    Keep In Touch

    Important Links

    Acknowledgments

    First and foremost I would like to thank my parents and my twin sister for all the support I had through my whole life. No matter what I chose to do. All I always heard was: Go for it, you can do whatever you want. We will always be here! Nothing can go much wrong when you have that kind of love. Speaking of love I would also want to thank my wife for the support and understanding of the thousands of hours spent in development and understanding of the markets and especially for the many times she asked me: Oh wow, where are you copying that from? lol. Funny, but true.

    I could not forget my trading friends, Alan D, Angela A, Angela D, Brent, CK, Colleen, Dan, Lynne, Paul C, Phil, Steve H and many others. This is a journey better not taken alone. We grow together.

    To all the charlatans in this market that have some of my money, I owe you a big thank you too. I fell for your tricks too many times, I was naïve and it was a hard path to go through without guidance or with the wrong one. I learnt so much from you and your dishonesty. It definitely made me a better man and trader. I am sure you will meet Karma one day.

    Foreword

    As you’re here reading this book you probably already realise that there’s no holy grail trading strategy; that ALL technical analysis works in isolation now and then - but that to be a consistently profitable trader you have to combine disciplined technical analysis with sound trader psychology and proper money management.

    You’ll discover in this book that there is both a science and an art to money management. What works best for you boils down to your personality, your cash

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