Forex Trading Money Management System: Crush the Forex Market with Bigger Profits and Smaller Losses!

I am fairly new to Forex trading, but I am a firm believer in the intrinsic value of automated algorithmic trading, where computer logic takes over the human mind's task of implementing the purely mechanical and repeatable aspects of entering, managing and exiting currency trades, after its validity and reliability has been rigorously back-tested. This book excels in introducing a Forex money management methodology that is doubly valuable - first as a standalone primer that can be used for discretionary trading, or even taken to a real casino for vastly improving your winning odds at the roulette table. Secondly, it introduces you to the concept of using so-called trading robots that will greatly facilitate your trade management efforts and undoubtedly improve your profitability. It is a clear and concise exposition of the rules of profitable consecutive and cumulative trading that has the added benefit of compounding your earnings over time, thus vastly improving your profitability on a sustained, longer term basis. The author's personal attention to tech support and customer service is a big plus. Best of all, the results are objectively verifiable and the author stands by his products to the fully extent possible. I highly recommend this book and its accompanying products.........,

A much different approach to money management vs. the usual 1-3% risk rule. Not the usual “use this price action pattern” or “Choose this indicator” for entry. Don teaches a money management technique once you’re in a trade, the how you choose your entry point is left up to you. The authors system does rely on winning streaks and how to maximize those streaks by adding lots to them. Don system locks in profits after X number of consecutive wins and starts back at 1 or .01 lot depending on your account size, margin etc. it’s basically the Martingale system in reverse with built in profit points along the way.Don does offer EA’s which will automate his systems which makes it easier but not necessary to use his methods. His bread and butter EA’s are the GPY/JPY 15 min. The EA’s will open trades and manage the lot size, SL and TP levels for you. If you choose to use his robots, you can get into the program and tweak how they operate to better suite your needs. You can observe how his accounts are doing as Don posts his live accounts for your viewing, so you don’t have to take his word for it. I emailed Don with some questions and he was prompt to reply. Please be advised you probably won’t get rich overnight, but you can make a steady sustainable profit with minimal draw down during loosing streaks which keeps you in the game.What do you have to lose but a few dollars and some reading time and it may just change the way you trade?

This money management strategy is good, however, it has its' place. If you do not net consecutive wins often, then this will actually dig your hole deeper. The reason being is because if you suddenly or FINALLY got a few wins in a row under your belt, now your next loss will be rather substantial since your position size is larger. Once you lose, your position size will drop back down to square one at it's smallest, and you have to slowly build yourself back up. If you don't win consecutively, you'll take forever to recoup the large loss. If you have a high win rate, this will make your money multiply like a family of hamsters. All in all, it is good if you know how to use it and when.

The most successful traders have always taught that the key to successful trading is money management. Well, here is a very simple but powerful money management technique that works in today's currency markets. The book itself is really about that money management technique, but does not point out any specific entry/exit system to be used.Although Don does not give a trading system example to use with this MM system, he does point out that it works best for any system that gives runs of multiple profits (and losses), which are quite common in the currency markets. For example, a trend following system will give several losses in a row during a consolidating market, but then give multiple profitable trades when the market begins trending again. For a range trading system, the opposite is true as well. Think about that for a moment, and you might just have a revelation.The method itself allows for a large return with small risk to the trader's original equity through a very basic, but powerful, system that "pyramids" on profits from the previous trades. Although Don mentions his trading robots, he does not appear to hype them in order to make a sale, and the ea's he sells are mostly simple trend following sytems which are very consistent and profitable. However, as I will explain below, you don't need to purchase his robots in order to trade using his money management system.As a person, I have found Don to be very honest and extremely generous. He is open to questions and is normally quick to answer any emails I have sent him, as well as transparent about his trading results. You can check out his live trading results on the MyFXBook website under the user name of RouletteTrader to see how his most popular robots are performing.Some of the negative reviewers have questioned the system's effectiveness and the trading robots' durability for the long haul. In my 20 years of currency and futures trading, I question whether any system is profitable forever. Even the turtles aren't doing so well these days, and most of the best robots from 5 years ago aren't even on the market anymore. However, as long as any system continues to make "runs" of profitable trades, I believe this technique will continue to be insanely profitable.To test this method before live trading, I ran a simple 2 month test in live market conditions. The market went sideways a couple weeks resulting in two stop outs and then moved. In the end, I had a 36% increase after only risking 2% (and 4% drawdown), more than triple the amount I would have made if I had been trading the conventional "only risk 2%" model.MY ADVICE:1. Buy this little book; it's practically free anyway. If you're not sure about spending the few bucks on this, you definitely don't have the stomach to trade the currency markets.2. Run through the numbers and test it out manually on a demo account.3. Check out the performance of Don's robots on his myfxbook account (search "RouletteTrader").4. If you feel comfortable with it, apply the system to your own live trading method or purchase one of Don's robots.5. If you don't feel comfortable with it, you're out nothing but the price of a latte and a little reading time.

Our brain is not wired to cope with randomness, that's why most people use martingale systems go broke. They never think "20 losses in a row can happen", so with the system described in the book you can reverse the process and profit from the sequence of losses (that now become winners, because you're using an anti-martingale/reverse system). This is kind of an antifragile approach, where you are benefited from randomness (a sequence of winnings in a row). And what happens if you have a sequence of losses in a row? Well, you are trading with your minimum size, always with the minimum allowed for your position size.

A definite read on Good Money Management.... really don't get it as to why people post negative review....Don clearly says you need to have a system that brings you occassional winning streak.....if your system doesn't have it how can he help.....well his gbpjpy robot does it for you .... In fact he gives you the logic behind that system.....

Amazing content written directly and very clearly. With this book you can go beyond the generalities of 1% and learn something that is really worthwhile.

By far the best trading book i have read in 20 years, tons of useful information, highly recommended, simple but effective strategies

Trading force at home is a very risky way of trying to make money and over 90per cent of traders lose. Sometimes it seems that if you took trades in the opposite direction that your analysis shows, you are more likely to have a winning trade. So trading is actually like tossing a coin. This book shows how you can trade using the principles of roulette trading, but adding some very innovative money management techniques. Well worth reading to change your mind set and to try out a completely different method of forex trading.