Better Risk Management for Traders - 7 tips!

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[Tradeciety]

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[felipediazvlog]

Instead of moving my SL to BE, what I do is this: when price advances 1R in my favor, I move my SL half-way to my entry price. This way, when price comes back to my entry price (to "retest" let's say), my SL is not there yet (but I just cut my risk in half, in case I'm wrong about the market), and if after the retest the price goes away in my favor, then I can be more safe to move the SL to BE, and still be in a winning position, now risk free.

[bulldogwoof]

Over trading was an issue for me, I only trade cryptos so correlation is a problem and forms a big part of my risk management strategy. I had to develop a math based system limiting the amount of trades I take and reducing risk once drawdowns start occuring, damn did I learn the hard way. Emotional capital is definitely one thing to preserve but anger did force me to develop a better risk management system 🙂

[simonwilliams]

Love it another amazing insight into what works in trading and how to apply it Thank you !!

[mmladin]

Great video! Can you tell us your opinion on cutting loss early? Would you recommend (in principle) to exit trade in loss if you think it is not going to work before it reaches SL. For example, you are in a trade because you expect explosive move, but it lingers on same level not doing anything for many bars. Would you wait it out till SL or TP, our would you cut it and move on?