Forex: How To Use Risk Management To Become A Pro Trader - (A Penny Saved Is A Penny Earned)

[@thetradingchannel]

EXTREMELY IMPORTANT PSA: There are a number of accounts using our name and profile picture to pretend to be me and steal money from viewers. 1 - I do not have a Telegram, Whatsapp, or Discord account. 2 - I will NEVER ask you for money. 3 - I will NEVER ask for money/cryptocurrency and say I will trade for you. 4 - I will NEVER ask you for a payment in any cryptocurrency. 5 - DO NOT COMMUNICATE WITH THESE ACCOUNTS. They are pretending to be me and trying to steal your money. I currently have two full-time employees that delete these comments daily. But, some still get through. So, please be extremely careful and never give someone cryptocurrency or money that is pretending to be me. AGAIN, I DO NOT HAVE A TELEGRAM, WHATSAPP, OR DISCORD ACCOUNT, I WILL NEVER ASK YOU FOR MONEY OR TRADE FOR YOU, I WILL NEVER ASK YOU FOR A PAYMENT IN CRYPTO. DO NOT COMMUNICATE WITH THESE ACCOUNTS. Also, there are a number of fake IG accounts doing the same exact thing. The ONLY Instagram accounts we run are @stevenkiethhart and @thetradingchannel anything else is not me/us. Other than that, I hope you enjoy the video! If you want to learn from us and would like to learn more advanced material then join our VIP training course/program. Go to www.eaptrainingprogram.com PROGRAM INCLUDES: Full training course (beginner to advanced) Technical analysis training Full rules-based Strategies Risk management training Strategy optimization training Backtesting training Weekly analysis video (each Monday) 3 to 5 email alerts each week Pro Trader Report (email of analysis) Priority email mentorship (Me personally answering your questions) Review videos FREE Spreadsheet for backtesting Advanced AP1 pattern training Advanced Double bottom/top training And much much more... For any questions about the course email - [e-mail] PROGRAM ACCESS - www.eaptrainingprogram.com Talk soon, Your honest trading coach, Steven

[@JR-iq5eb]

Lol the comments are always on point , I was literally just about to make this same exact comment because 2% of 1000 is $20 not 200 , that would be 20% lol but give him a pass , as long as you get the concept thats all that matters

[@bartholomeusjordaan4928]

Love your videos!It even helped me with my farming in South Africa!Farming Down but Trading Up!Going to Australia next year if all goes well and just trade!

[@ripperhd5695]

This is great, this was my only hold back from becoming successful.

[@juliematos6429]

Simply Love you!!!!!!! So easy to understand !!!!! Im very grateful. You just happend to help a single mom

[@purepassionfx]

Great Advice! Position Sizing & Risk Management are the essential foundations of profitability! Also may take the longest to master, yet have changed the game for me & by far pay out the most.

[@endringresi9181]

Man am seeing all the guys are using the triangle rules: ratios patterns structure, but what difference the pros is the ability to not become emotional . Today that xau/usd wasssss a massive short but the market took me out 10 pips out of 382 , and i couldnt close the orders in time because i got emotional , all i want to say is keep the emotions out guys and be rational!

[@tropical.drones]

200$ at 5:22 is supposed to be 20$ for 2%. Other than that, great video i really enjoy your content

[@brucesmith6868]

Thanks Steven great video I love the number crunching on spread sheets, it's the black and white cold facts that should give anyone the confidence to trade there strategy !!

[@gulshankhan2102]

Hey thank you for taking the time to do all this and being so honest it's amazing!

[@ap5672]

5:14 I respect your videos and have learned much, and I am a subscriber. With respect I am a little worried you didn't automatically catch that 2% of $1k is not $200 but $20. :)

[@doubledose8616]

Did I miss something? Isn’t 2% of 1000... 20?

[@uknasa007]

yes what did it say in the video?

[@FundedFuturesTrader]

He said 1%

[@tkc-2024]

@@uknasa007 200

[@JR-iq5eb]

Lol the comments are always on point , I was literally just about to make this same exact comment because 2% of 1000 is $20 not 200 , that would be 20% lol but give him a pass , as long as you get the concept thats all that matters

[@dr.swisha]

i think he meant 20$

[@GrowWithWahab]

I created my own looking at your sheet. Took me 7 hours.

[@pratik_71_15]

People come here with the aim of chasing money more than knowledge and that will damage your progress, trust me. Chase knowledge first and I promise! The money will follow you just like it's following some of us now.

[@MPlain]

Great content as usual. I have like a tier system for trades. No matter what. My first entry into a situation is always pretty low risk to my account. I will set a target in the direction i want and at that point i will add to my trade. How much i add depends on a few things but this also is a rule set. When i do get it wrong and we all do. My losses are small because my entry was small. Not very often after i add does the market flip flop and i sink. It happens occasionally. There is no guarantees in this game. but by leaving a little cash on the table for the trades i win, i keep my risks way down. :). This has proved very profitable for me.

[@deonpotgieter1345]

Well done Steven......you should be NR 1 on youtube

[@arashrostami3772]

thanks a lot for this information but I curious how actually we can drew the vertical line (red=loss ,green =win) in trading view to back test my own strategy I will appreciate If you can make video of this

[@indrin12]

Brilliant playlist covers everything. Thank you for sharing.

[@mahdih2141]

Risk management is the most important thing in trading

[@colin4215]

Brilliant channel. So much comprehensive content. Thanks!

[@QuickJoe]

Starting small, working your way up while leurning, Is what im trying to do atm. hope Ill be good one day! so far im liking it a lot. keeping me active on leurning every day, (sorry for my bad english, Im Dutch)

[@UwajimbaArabmoney]

Thanks for this content, pls could you help with the spread sheet, would be really helpful

[@JayHennigan]

Cool AF upload Steven, I love your presentations. Thanks so much for the heads up each week! BTW, the Tom, Dick & Harry characters reminded me of a supercool movie - The Great Escape (1963) - where 3 of the escape tunnels were named Tom, Dick & Harry 💪🏼😎🤘🏼

[@memist5685]

wow so cool but WHO ASKED

[@chrisarthur4815]

U are actually good at drawing

[@felipesantos1471]

Hello! Why did you buy 1370000 units and the pip value is $103.83? Wouldn't It be $137.00?

[@divesh693]

Discuss about more time frame importance...

[@warrenzozi5804]

That's great I have been calculating it manually

[@ebooklibrary378]

MT4 users envy the powerful tools Tradingview provides

[@SatyendraJha1]

Yes i know he's a truth worthy man

[@samikphaiju5356]

This video was really amazing video should we need to look the indices while trading forex. And thank you for the such a amazing video . Lots of love from Nepal .

[@deepudaswani3894]

Great video , could we download excel sheet from your channel pls.

[@MatsauFx]

Thank you Steve🙏🏼

[@RiversonJoseph]

This was a great video bro, thanks for this great info.

[@bluetrucker-0299]

Thanks lot man....it would be nice you put more videos like this....place an order its hard confusing...thanks a lot.....!!!!

[@MikeRacso4]

What currency are you buying and which are you selling simultaneously? Do you buy or sell the base currency?

[@OldSkoolLegend]

when EVERYONE is taught to place stops below previous lows/wicks.... where do you think the market makers are gonna drag the price? And yes.... you arent the only one to try to place it a few more pips away. everyone is also doing that too......

[@Todaysviralist]

How do implement if i don't use trading view

[@marcovalentinoalvarado3290]

Somehow you make me remember of Picasso.

[@JonH232]

You said you've had 3 month periods of draw down. At what point do you decide the strategy no longer works and take time off to create and test a new one?

[@preciousgrandney3597]

Hello do u have a video on Calculating pips ? Also what is that green n red box u put on the screen ? Thank you ❤️

[@uknasa007]

Its on trading view its called long position & short position tools

[@naquonfreshmoney]

Using ipad or iphone how do we "right click" to use that tool on trading view?

[@kabelosikwane1435]

Which platform is this

[@user-bq5jr8qh6n]

Thank you. Great

[@thesouthguy]

Thanks bro👍🏿 I love your charisma

[@whiteeaglefx]

Best mentor ever thanks a lot

[@ap5672]

15:31 I am a beginner trader. I may be missing something. Total % gain of 111.09% seems odd. I would think it would be (11,108.64 - 10,000) / 10,000 * 100 = 11.09%

[@ielungwang2954]

No, Its right. Its the total gain, means that if he start with 10,000 and the total gain is 11,108.64 it means that now he will have 21,108.64. And its 111.09$ of the initial number.

[@nic1411]

1 thing that is still not clear to me is how you blow accounts. With the people you showed at the beginning 1 person risked 100% of his account and lost. But if I would risk 100% and I buy for a $1000, but put a stop loss at a level were I would sell all of my units for $900 ($100 loss), I did not blow my entire account, eventhough I did risk 100%. Could some one please explain that to me?

[@justinjohny5304]

I have a doubt. If i had 1000 dollar account, if i take trade based on my strategy the pip from my entry to my sl will be 30 to 40 pips sometimes 45 pips . 1000 dollar account lot size will be 0.10 right ? So if i take that trade my sl will be 40 dollar or maybe 45 dollar so i'm risking 4% or 4.5% per trade . Then how it could be reduced to 1% or 2% ? Market rarely gives this type of risk ratio trades which means sl will be 10 pips or 20 pips per trade . So how it could be done ?

[@ticohilliard961]

Hi Steven, thanks for the video. One question. How is the max drawdown more than the percent risk per trade? Wouldn't you hit the stop loss if your drawdown percentage hits your max risk?

[@julianrenndy9947]

I choice harry.. 😍😍

[@DMcXPX]

Do I need to have a trading acc with Tradingview? When I click on create new order it tells me to "log in to broker account to start trading"

[@inasamaroonsiciid]

Can you post forex for beginners or basic because I want to share with friends. I love how you tech and explain very easy way to understand.

[@uknasa007]

learn the basics online

[@kevinwhite7483]

Yea could be true, but you can't learn without the burn. Just like you or anyone else when they started training.

[@sagevoix5873]

im confused...isnt 2% of qk is 20? 200 is 20% right?

[@tooshort3515]

@9:05 .... I am using T.V. for analysis and mt4 for placing my trades. mt4 gives me a "volume" to enter when placing a trade which is massively lower in size but has the same effect as "units" in the trading view. how do I take that said units value from T.V. and convert it to volume so that can enter the right values in mt4?

[@KamsiObi-qx4kr]

What broker do u use steve

[@prasadbhat1324]

Very nice. top quality info. thanks

[@stormtraders]

Those calculations are a pain in the .. everytime. Thx for showing the tool in tradingview. Is it also possible in the app? They should provide the same in mt5. Don’t understand why they still haven’t done that in 2020. If I can add another good plan for risk management is to only put in a few k into the account for if anything happens and you lose the account. You trade with the perspective of lets say 30k but leave 25k in your own bank acct and only put 5k in the platform while opening positions for 30k 1%. For me it helps with the comfort of knowing that if something shady happens with your broker, you don’t lose the whole 30k

[@DRAGON-zm8gk]

Great video. Subbing

[@giosancosmin3228]

Gold information! How can I receive the spreadsheet?

[@ProGamingTopic]

Don't be in a haste to invest. Know what and who you are investing to and be sure that the person will deliver before investing.

[@blackdong4footwangnosucky]

So you’re saying Invest in hookers?

[@CHETAN1]

Can anyone plz tell what exactly is max drawdown?

[@hamedbie4352]

Thanks

[@chillwhatsappstatus3653]

Yeah! I agree with you sir.

[@halilcagatayturgut616]

Could you share with us excel file?

[@sbongakonkechemane8539]

What platform is this?

[@Number1HeadlightRestoration]

Yet another great video. Thank you Steven and thank you for the heads up regarding fake accounts! Thieves will stop at nothing it seems...tut! You are an inspiration and I'm currently working hard (between my already busy life) to learn all that I can about Forex trading using your many excellent YT videos as my platform. Let's hope when I eventually start demo trading I can make this work for me. If you do ever decide to give these spreadsheets away for free again, I would massively appreciate receiving them as I'm currently gathering data backtesting strategies, so will have data that needs organising within the coming months. Thank you again Steven for taking so much time to share your amazing knowledge about all things Forex. You are a star!!

[@christianbass10]

what about a $500 account? what is the smart approach? We dont want every minor market move to hit our SL with using just 1% :(

[@rajidilham6523]

That's very correct sir!!

[@danielpenalosa6193]

What do you call the drawing for the stop loss? the one with green and red color? I am using Webull ang it appears it doesnt have it there.. TIA in advance

[@rupeshchavan6372]

At starting of video i really thought of Dora and Explora girl..😂😂

[@osasogieodiase9809]

Rupesh Chavan 😂😂

[@jannikolaisen9545]

Greetings from Norway. Being stuck in the Pandemic home office I have started to study FOREX trading. I really, really liked the spreadcheet you made for RM Plan. How do I get it for free? ( I know I'm a cheap bastard.!!) Thanks in advance.

[@saimirkaci9517]

Sorry if i get this wrong but 2%of 1000 is 20$ , why are u saying 200$ , 200$ is 10% of 1000

[@BinGO-xw3df]

But where are the more credible source to learn about forex trading?

[@JamesSmith-ds2hi]

When doing risk management should u go by your balance or the equity you have?

[@thisbishawesome]

your balance will never change until you close your positions, equity changes constantly to reflect your unrealised profits/losses

[@serenity9769]

keeep goingg brooo

[@mohansmriti2718]

Just want to ask forex technical analaisis will be similar to stock?

[@byransantiago3211]

Yeah it is well i could still explain a few process and also give you recommendations on proper signals to trade on

[@Bradleymotaung]

nice video king

[@JamesSmith-ds2hi]

IM CONFUSED. I have an account with £1000 and I always risk 2% of my account per trade. For example I will do a trade where I’m risking 2% (which is £20) and it tells me to use a 0.02 lot size which Is 20p per pip, but then I will have a stop loss of 200 pips. So if I hit stop loss I’m loosing £40 which is double what I should be. Anyone know why this is?

[@BMWE-hm7uz]

You have to adjust the lots bought to asjust your stop. Lets say 1 micro lot and you have a $20 stop of 50 pips. If you want to have a 100 pip stop, you need to buy 0.5 micro lot. If you want a 25 pip stop, buy 2 micro lots. You increase one side, you lower the other and visa versa

[@shushushow]

0:39 Harry is psychopath 😂

[@Mrzaydab]

One shot for every time he says 'risk management plan'

[@hashirfarooq4463]

I am TOM at the moment

[@olisaoliver3985]

Thanks boss

[@benstern310]

@10:15 by the sell and buy buttons, what is the 4.5? I've noticed this varies on different markets

[@ayootemolu3586]

That is the spread - the difference between the ask price and bid price

[@benstern310]

@@ayootemolu3586 Cheers! Would be possible to explain a bit more? I'm new to this still

[@MrAzerkhan]

I liked the part where he says "you avoid becoming dick". He is more like a life coach. :)

[@bill4nier]

Dude, you need to make sure you use a calculator. 2% of $1,000 is $20 not $200! And yes, that is a cool tool to quickly figure out the lot size for a trade.

[@uknasa007]

it was a mistake everyone makes mistakes

[@gustavramedies2901]

Doc mcstuffin stuffed in everything

[@thokchomchingkheinganba150]

I'm a beginner I don't know anything about forex or any trading.can I join EAP course? I mean EAP course teaches all about forex basics also please reply me Mr Steven

[@Content_838]

Update

[@samgimhana153]

What platform is he using ... if someone know please tell me

[@nelsonmichael6047]

Trading view

[@maarrsseelli]

Please, give me the most boring math leassons on the planet, on how to calculate TP/SL in usd for non-usd pairs

[@bartholomeusjordaan4928]

I think you need and to come and talk in parliament in South Africa!Maybe you can talk some knowledge into their heads!

[@hamedbie4352]

Hey bro , it's funny 😁

[@techxteem8010]

it took our guy over a year to make his strategy testing spreadsheet 😂

[@muntuent]

Steven, I signed up and didn't receive the free spreadsheet. How can I get it?

[@byransantiago3211]

well i could still explain a few process on getting it and also give you recommendations on proper signals to trade on

[@marcuswilliams6583]

Harry like SL got hit next trade

[@dalu0700]

so 1% risk is based on the amount I trade for in one trade or the total in my account?

[@JR-iq5eb]

Daniel Lundkvist in a nutshell if you have a $1000 Account and you have a 10 pip stop loss then 1% of your Account is $10 which means you can trade a $1 per pip lot size in that trade because if you end up losing then you only lost $10 which is 1 percent

[@JR-iq5eb]

Daniel Lundkvist if you have a 50 pip stop loss with a $1000 Account then using 1% risk management would be risking a 20 cents per pip lot size because 20 cents times 50 equals 10 dollars which is 1% of 1000 , and to answer your question 1-3% is how much you should trade in every single trade and you calculate it based on how much money you have in your account at the time of the trade

[@JR-iq5eb]

Hope that all makes sense lol

[@kyongixodnuba4435]

Learn and get the knowledge first before investing..

[@motivaterelax427]

how did he get 19 pips

[@plus-ii2rt]

People wants to do what the 99% does but wants to get results that are fit for the 1%, but it doesn't work that way.

[@helpfultipswithmaya8924]

OMG he's real