Forex Blog Articles

Successful Forex Traders are Revealing their Risk Management Strategies

May 24, 2020 | 11:41 am | Forex Blog Articles
May 24, 2020 | 11:41 am
Forex Blog Articles
Successful Forex Traders are Revealing their Risk Management Strategies

Successful Forex Traders Strategies

This article is not just for forex traders, but for all traders.
If you are a trader who has not yet found your way to become profitable, in this article we will reveal 10 successful forex traders strategies that you can take inspiration from.

We recommend to read the article, and maybe you’ll find a trading strategy that fits your character and daily routine.

You too could become a profitable trader!

Justin’s advice: Search for confluences on multiple time frames

Justin W. 31, United States.

Justin’s risk management strategy: You always want the trade to make sense, so search for confluences on multiple time frames before you began to trade.

Click here to read Justin’s full interview.

 

Jerry’s advice: Risk no more than 0.5% per trade

Jerry S. 37, United States.

Jerry’s risk management strategy: Be patient, keep your risk low, and have a strict stop loss, do not overtrade and aim for a risk-reward ratio of at least 1:2.

Click here to read Jerry’s full interview.

 

Hughes’s advice: Limit your exposure in any currency to 2% of your account balance.

Hughes S. 35, Zimbabwe.

Hughes’s risk management strategy: Manage risk is very important especially if something unexpected happens. if you trade a few pairs at the same time, you better limit your exposure to 2% of the account balance.

Click here to read Hughes’s full interview.

 

Solomon’s advice: Whenever you lose a trade never let it bother you.

Solomon O. 36, Ghana

Solomon’s risk management strategy: Whenever you lose a trade never let it bother you, and for any trade that you take, close at 50 pips profit.

Click here to read Solomon‘s full interview.

 

Ruben’s advice: When you are on losing streaks lower your trading volume

Ruben, 31, United States.

Ruben’s risk management strategy: Risk less than 2% of your account, he decides by the amount he risks where to put his stop loss and take profit.

Click here to read Ruben’s full interview.

Successful Forex Traders Banner

Wong’s advice: Never put your eggs with one forex broker

Wong W. 30, Singapore.

Wong’s risk management strategy: Never risk more than 1.5% of your account size, and never put all your eggs with one forex broker. Make sure that there is a 1:2 risk-reward ratio on the trades you take. Reduce the trade size on trades when the markets are highly volatile.

Click here to read Wong’s full interview.

 

Hector’s advice: Monitor your money management

Hector O. 52, United States.

Hector’s risk management strategy: I set my stop loss at 1.5x ATR, and then if the trend gets good traction, the stop loss is set as a TSL at about 20 pips behind price.

Click here to read Hector’s full interview.

 

Gerard’s advice: If your trade does not meet your criteria do not enter the trade

Gerard, 37, United Kingdom.

Gerard’s risk management strategy: Risk between 0.2% to 0.5% your trades, and aim for 5 to 1 or 3 to 1 reward to risk as minimum criteria for entering a trade. If the trade does not meet these criteria, do not enter the trade.

Click here to read Gerard’s full interview.

 

Baljit’s advice: Let your winner position run from 2R-5R or beyond

Baljit S. 28, United States.

Baljit’s risk management strategy: If you are holding several positions at ones, risk less than 0.08% for each trade, so that each loss has minimal impact on your balance.

Click here to read Baljit’s full interview.

 

Justin’s advice: Look for confluences on multiple time frames before you trade

Justin.W 30, United States.

Justin’s risk management strategy: Look to see what category the trade will fall into. Then look for targeted entries for where you want to be in the trade. Don’t risk more than 1% of the account on a trade.

Click here to read Justin‘s full interview.

 

Successful Forex Traders Risk Management Strategies – the Bottom Line

In the article you have read 10 advices from successful forex traders, we highly recommend going in to read the interviews with them, there are quite a few tips that can help you become a profitable trader.
These traders have proven that their trading strategies work, so take advantage of their knowledge and see what is right for you.

Good luck!

 

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