There are three pillars of trading that are prerequisite to consistently profiting from the markets. These include having a good trading strategy, having a good trading psychology and having a good money management plan in place.
Money management is usually the least focused on yet it is the most important tool a trader can use to continue reaping benefits from the market. Its neglect is the major cause of failure in most trading strategies regardless of whether they are manual, or automated.
The main concept of money management lies in the acknowledgment of risk in every trade executed in the market. It is a reflection of awareness on what the future holds in the worst case scenario for every trade entered. It can assist a trader in determining how much they are willing to lose without affecting their ability to trade in the future.
In this course, I will be sharing with you some knowledge on how to incorporate Money management capabilities into algorithmic trading softwares to ensure that your automated strategies respect the money management policies of your preferences.
What you will learn:
- 1. How to create a Breakout expert advisor with MQL5
- 2. How to risk a percentage of Balance per trade with MQL5
- 3. How to risk a percentage of Equity per trade with MQL5
- 4. How to risk a percentage of fixed balance per trade with MQL5
- 5. How to risk a percentage of free margin per trade with MQL5
- 6. How to risk a fixed amount of money per trade with MQL5
- 7. How to risk use Lot Step or Auto Lot in MQL5
- 8. How to implement Martingale with MQL5
- 9. How to implement Anti-Martingale with MQL5
- 10. How to implement Semi-Martingale with MQL5
- Anyone interested in learning Risk management with MQL5
