Intraday (M15) - 19 June '09

Last day of the week and I'm trading with my new money management parameters.

GBP/USD

Daily bias is up whilst immediate trend is only slightly bearish.

Long 10 lots at 1.6341 (10 pips above Daily PP)
Result: Set & forget trade with SL at 1.6311. TP at 1.6441 (gain of 100 pips)

Tally:
10 x 100 x 10
= USD10,000.00

GBP/JPY

Daily bias is up and immediate trend is also up.

Long 10 lots at 157.33 (10 pips above yesterday's Daily PP which happens to offer significant support)
Result: Set & forget trade with wide SL at 156.83. TP at 158.83 (gain of 150 pips)

Tally:
10 x 150 x 10
= USD15,000.00

Total Tally = USD25,000.00

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Fixed Ratio Money Management

It's been a while since I last blogged about Money Management, what many consider to be the most important yet overlooked subject in trading. As one of the three (3) pillars of trading success (the other two being Mind and Method), I therefore feel that I have an obligation to share more of my thoughts on the matter.

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