Summary of 🎯 Forex Trade Management Expert #7 – Account Protector – Profit & Loss Tab [TradingFinder]
The video tutorial focuses on using the "Profit & Loss" tab within a Forex trade management tool to set and manage risk limits on trading accounts. Key financial strategies and features discussed include:
- Setting maximum daily and weekly profit and loss limits to control trading risk.
- Options to define these limits in three formats: percentage of account balance, points, or dollar amounts.
- Activating warnings that prevent new trades if the set maximum daily or weekly loss limits are reached, helping to enforce discipline and protect the account.
- Step-by-step example of configuring:
- Maximum daily loss at 5% of balance, 1,000 points, and $5,000.
- Maximum weekly loss at 10% of balance, 5,000 points, and $2,000.
- Flexibility to activate or deactivate each limit based on individual trading plans.
- Emphasis on using these settings to stick to a Trading plan and avoid overtrading or excessive losses.
Presenter/source
- TradingFinder (unnamed presenter)
Category
Business and Finance