I named it Pips Journey, it sounds nice, right? What’s Pips Journey? It shows you pips records. As we know previously, a trader is similar with a manager who manage his company. Manager needs to know the costs, profit, taxes so he can prepare for the next strategy to increase the profit or at least to stabilize the profit. Trader should have a Pips Journey especially for newbie. I think pips journey is very important to keep your trading record, risk management, money management, trading strategy and discipline always in the right way. Here are the advantages of Pips Journey :
Money Management
I have two trading technics for money management. First, I use 10% of my account for short term. My pips target is 8 – 15 pips. Second, I use 1% of my account for long term. My pips target for 1% strategy is 50 -100 pips. Don’t use more than 10% of your account, unless you are an expert. For a beginner, use 1-5%, don’t expect too much profit or too greedy.
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