Forex Sailing Video #5

Posted May 25th, 2010 by Rapid Forex 12 Comments »

Money Management Made Simple

Proper forex money management is critical to your success with Forex Sailing, or any type of online forex trading.

Even if you’re a great trader, you need to use money management to methodically grow your online forex trading account. Awhile ago I posted how you could lose money on a profitable series of trades!

I created a video to show you how to do your proper money management for Forex Sailing in about a second! I’ve added a few calculations to the free fibonacci calculator for Forex Sailing to make it even EASIER – cause I love you guys !

Before sharing the video, you may want to check out these links:

Related Forex Sailing (Part 5) Posts:

1. Forex Money Management for Forex Sailing – this is the written version of the video below. You can read this instead of the video, or use it as a supplemental guide to go with the video.

2. Forex Sailing Fibonacci Calculator Download – let this little spreadsheet tell you all the critical numbers for the trade on a picture of how your trade is unfolding. This calculator will also show you at a glance how to determine if the trade fits your forex money management criteria based on your online forex trading account balance.

3. Forex Gambling Mentality Kills Profits – This post gives you a great example of why the money management system taught in the video below is important for you to follow. See how a profitable series of trades can lose money without a money management plan…

Money management for online forex trading doesn’t sound like fun. In fact, any time you tell people to use discipline they cringe (myself included). In the video below I show you how to reduce your trading decision to a simple glance so you protect your trading capital and methodically grow your forex trading account.

What’s Next?

In Forex Sailing video #6, I’ll share another recent trade example for the AUD/USD that moved over 400 pips in less than a week. There’s only one more video left in the FREE Forex Sailing Course. If you want to learn online forex trading in LIVE market conditions, register for the Hedge Report today and take advantage of a very special promotion.

If you haven’t registered for the free online forex trading course, you’re missing out big time!!!

Stay tuned for more killer online forex trading information…

Tags: AUD, fibonacci calculator, forex sailing, forex swing trading, forex webinar, Money Management, USD Posted in Forex Sailing

12 Responses to “Forex Sailing Video #5 – Online Forex Trading Course”

Kulvadee Says:
May 25th, 2010 at 4:43 pm
This is kind of our life jacket for sailing.

[Reply]
Bryce Says:
May 25th, 2010 at 7:52 pm
I just finished watching all the sailing videos (through 5). I then went out to my charts to look around for past and current sailing opportunities.

If I understand correctly, there have been some great opportunities on several of the currencies in the recent past.

Currently, the AUDUSD pair caught my attention. The pair was in consolication until 5/18. Since the breakout, the pair dropped from .8788 to .8066. It has since climbed to .8357, with is 61.8 % of the breakout and is now dropping. Is this a sailing opportunity at Point III? It is currently trading at .8222.

Please let me know if I am reading this correctly.

[Reply]
Rapid Forex Reply:
May 25th, 2010 at 9:06 pm
@Bryce – wait a few hours, I just recorded a video explaining the very answer to your question. It should go live in about 12 hours… If you’re subscribed, you’ll get the email.

[Reply]
Kulvadee Says:
May 26th, 2010 at 1:18 am
I looked on 30 min chart to find opportunity on AUDUSD and entered price III at 0.8234, using calculator entered price I at 0.8188, priceII 0.8266 and price III 0.8218 and my target price at 0.8314 was hit. amazing calculaor.

[Reply]
Toyin Says:
May 28th, 2010 at 2:13 pm
@Brian RE: BOOTCAMP.
I followed your link to etoro. They have a cool platform. But there is no 4hr chart like on the MT4 platform i am used to. Since we basically use daily and 4hr charts for forex sailing, how will it be with the etoro platform?
Secondly when will the camp begin?

[Reply]
Rapid Forex Reply:
May 28th, 2010 at 2:14 pm
@Toyin – we’re not going to use eToro’s charts. I’ll be announcing the bootcamp date & explain why eToro is our best option (I’ve got a cool surprise in store

[Reply]
Bryce Says:
June 15th, 2010 at 10:45 am
Brian,

I am a little confused with info in video 5. In one slide, you mention that if you trade a micro account 1:400 leverage, you trade at 10 cents per pip. In the next slide, you mention that you should never risk more than half you account. With a $500 balance, you say to risk no more than 250 pips. If I am not mistaken, 250 at 10 cents per pip is $25. With a balance of $500, could you not risk 2500 pips, or $250, at 10 cents per pip?

I just want to make sure I understand. Thanks.

Bryce

[Reply]
Rapid Forex Reply:
June 17th, 2010 at 11:05 am
@Bryce – When I said “half of your account” I meant “half of the numbers of pips as you have in dollars,” I thought the context made sense. I’ll be more explicit in the future.

You’re right that it’s $25, which is 5% of your account & fits the money management criteria. You would never risk $250 (2500 pips) in a $500 account.

[Reply]
Kulvadee Says:
September 20th, 2010 at 5:00 pm
Regarding money management with half rule that if we have $1,000 and can risk 500 pips. Can this rule apply with the 5 digit broker? Thanks.

[Reply]
Rapid Forex Reply:
September 20th, 2010 at 6:31 pm
@Kulvadee – sure it can…it’s a very easy adjustment. Just do 5,000 micro pips, or look at the last decimal place as a fraction of a pip. Are you referring to fxcm’s micro?

[Reply]
Kulvadee Says:
December 7th, 2010 at 4:40 pm
Regarding forex sailing, when we enter at point 3 and set stoploss at point 1, I wonder if you could help how to calculate lot size with no risk more than 2%?

[Reply]
Rudolf Says:
June 10th, 2011 at 7:02 pm
Excellent video. Poor money management is likely the reason why most forex traders lose money.

[Reply]

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