jav..,its important to have yourself well funded..I agree...but its more important to manage funds relative to acct size.If a person has open trades in which the margin used is 5% of net asset value ..that is considered by many to be very aggressive trading and many say you should not put at risk more than about 2% NAV.Its also been said that to trade a standard lot (100K) that you should have a minimum of a $50,000 acct.I like to make initial trade entry at not more than one min lot(10K)..a dollar a pip...If I need/want to add I do so at only 5K each.Trades that are not going well tend to grow and that must be a foreseen possibility.In really volatile conditions I may set trade size at only 20 cents a pip for that reason.With those methods I can wait out a trade til hell freezes over and always turn a profit by doing so.
I have NEVER under any conditions allowed my margin percent available to get below 80% no matter what size the acct.
BTW...some would scoff at 20 cent a pip trading but I have seen my wife do very well doing that and I have also seen her nearly $200 down on one 2K position(LOL)...2K can easily wind up as a 10K or more position so its not as silly as one might think.
I have tried several times to encourage trading at 10 or 20 cents a pip to take psychological pressure off and try to make PIPS..not money..the money is a by product of good trading...and good trading makes PIPS/MONEY!
Demo trading teaches one a lot ..especially if you reduce the funds to a level that your live acct would be funded with....the next trick is having the patience to trade micro lots and treat the acct as if it were real...I was told in my early days that I couldnt really treat it like real money...not true..I am living proof that it can be done but it takes what it takes to prosper in FOREX...patience and discipline.
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