Forex Trading - Risk Management EXCEL
In this video tutorial Justyn explains the importance of proper risk management when trading and how vital it is to your trading success and becoming a consistently profitable trader. Justyn previously showed you the Mathematics behind trading risk by using a calculator but, the calculator is a little technical for some people when trading. In this video Justyn shows the use of an Excel file which calculates the risk for you, reducing the amount of Mathematics needed to be used by people. Using this excel file all traders have to do is enter their current trading account balance, decide how much percentage risk they would like to use per trade and then finally enter the amount of pips they will be risking on the trade. Once this is done the Excel file will tell the trader the amount of volume (lot size) to allocate for each trade based on the risk, which is set. The use of this Excel file totally reduces the amount of Mathematics needed for proper risk management making many traders love this file. The file also allows traders to note down which trading strategy they used for the trade, the price at which the trade was entered, the stop loss for the trade, the amount of pips gained or lost and finally the amount of profit made or lost in monetary value, the file totally takes care of the mathematics of risk management so that you do not have to. This is a great tool and a great tutorial.
Risk management software and excel purchase:
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