Money Management or MM.
It is so crucial in any trading transactions.
It is so important! If it need to pick up only ONE main important aspect in trading transaction - considering the other required aspects such as strategy, technique, technology capabilities, emotional status, discipline, etc have been adequately acquired - the MM might be the one that will bring the difference between profit and loss thin line!
As such, there is a high demand for traders to have a really good MM spreadsheet (at least!) to so call 'justify' the trader's decision on the lots size before placing their entries.
Alhamdulillah, there is one really good and practical MM tool which has been developed by a respected Forex guru from New Zealand. Mr Andrew Mitchem. He is a professional forex trader cum educator at The Forex Trading Coach.
His Lot Size Calculator MT4 Script can be downloaded freely, as part of his contribution to this wonderful world of forex trading.
"It really is way faster to just pull it onto the chart and calculate proper risk, even helps to remove some emotion from trading knowing that I have proper money management on every trade -
Dermott O’Keeffe,
Limerick, Ireland."
Feel free to have it free HERE or you may pay a visit to HIS WEBSITE for details instruction and video preview (webinar) related to the application of it.
WALLAHu Aklam.
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