Price Action series: How much money should you use for trading? (Chapter 2)

1
129
Price Action series: How much money should you use for trading? (Chapter 2)

This is lesson 2 in the Price Action series. We will talk about money, risk management, and capital in trading. These things are very important because they’re tied to trading psychology.

How much money should you use to trade?

The above question should be How much capital should you allocate to Olymp Trade? And how much money per transaction is to keep your mind strong?

The answer lies in your income. How much is your income per month? $500, $1000, or more?

The best way for you to avoid psychological problems is to only use part of your income for trading.

How much money should you use to trade?
How much money should you use to trade?

For example, your monthly income is $500. You should only join Olymp Trade with an amount of $200. So if you split this amount, you are only allowed to lose a maximum of $10 per day. Things will be much easier now.

– If you win, you will have extra income every day.

– If you lose, you will lose $10 and this number will not affect your life at all.

As long as your mind is comfortable, trading will naturally be favorable.

Capital management in Olymp Trade

Back to the Price Action series, I will use this $5,000+ account to practice trading. After breaking it down, I’m only allowed to lose a maximum of $250 per day.

This number will be divided into $200 Forex and $50 Fixed Time Trade.

Capital management in Olymp Trade
Capital management in Olymp Trade

My advice is when you lower the maximum daily loss, your psychology will be very comfortable.

What is the first goal when trading in Olymp Trade?

It is to Survive!!!

If at the end of this series I still have $5,000 in my account, this will be a huge success.

My consistent mindset is as long as I survive and still have money in my account, I will naturally make profits.

The first goal in Olymp Trade is to survive
The first goal in Olymp Trade is to survive

Conclusion

The game of money is a game of psychology. You have to do everything you can to take the psychological pressure off.

First, reduce the expectation of making quick money in Olymp Trade. Then limit the amount of money that can be lost per day. So if you are wrong, you only lose an amount that doesn’t affect your life at all. See you again in my next article.

Join Olymp Trade Club signal room here:
https://t.me/olymptradeclub19

Join the Olymp Trade Club Signal Group: https://t.me/olymptradeclub19

Price Action series: How much money should you use for trading? (Chapter 2)
4.4 (88%) 72 reviews

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here