You want to practice good risk management and set stop orders to close out losing trades. One way to do this is to limit the risk of each trade to a percent value of your overall account balance. All you need to know is what percentage you’re comfortable with risking per trade and what distance to set your stop from the open price, in pips.
The Risk Management Indicator is here to help. Once you set your preferred risk percentage, this intuitive indicator calculates a position size for your trade, recommends stop and limit distances, and calculates the total value gained or lost should the stop and limit execute at the set parameters. Trade details are then displayed directly on your charts, giving you easy-to-read access to proper risk management information.
The Risk Management Indicator is most effective when used as described in the article “The ABCs of Risk Management” by James Stanley, Trading Instructor.
The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results.
There is no guarantee that the systems, trading techniques, trading methods, and/or indicators will result in profits or not result in losses.
This Indicator is only compatible with FXCM Trading Station Desktop software. Additionally, an FXCM account is required (including free FXCM demo accounts).
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