Day Trading For A Living - How To Avoid Losing All Your Money

When day trading for a living you must master risk management. This video gives you practical tips for day trading for a living by demonstrating how to avoid blowing out your entire trading account. Get My Favorite Trade Strategy Here: http://www.topdogtrading.net/youtubeorganic-day-trading

Comments

1. this is very helpful thank you sir :)
2. After analysing my trades - and there were so many:-)
   for overtraders I would propose to think, "As every trade you start has to be documented, it makes no fun to analyse hundrets of low level trades".
3. ++Very important video.
   This should have been the first lesson for every beginner, including myself. Because it is so true.
4. Good stuff. Keep it up
5. that is exactly how i do it .. (i hae however much larger goals and personal stops) .. but in essence its the same .
   i however have never hear/read this anywhere exept here in this video !
   
   great stuff !
   
   oh btw: i use cTrader, where on the order window i can just type the pips for my stop, and the application will show automatically the risk percentage and money .. so i can ajust the lot sizes until it meets my money management rules .. (very handy)
   
   i think the biggest issues to overcome is the psycological side of things ..
   money management is easy, but keeping yourself away from the computer is a whole other story ;)
   
   i do just keep trading but switch to a demo account
6. thank You, hope, it will help
7. Thanks for this very helpful & thoughtful presentation.
8. This is just the info i needed. Is there a longer video with same info available?
9. Thanks Barry! It's a very helpful training and information. I am testing one of my EA developed using mt4 running on spx500usd. I found if I want to maximize my profit, i have to increase my stop lose up to 15% per trade to my total deposit by testing from time frame from 2014 till now. And it turns out to have 140% profit.
   
   Do you think it is safe for me to apply this EA strategy using my real money? I know from your training "the smaller the better" i would agree with it. but I can't find a way to keep the per trade stop lose smaller cause the EA is designed at H4 time frame and exit at 1Day time frame. I dont want to lose my real money and I dont know what do now. Really appreciate your expert advise. Many thanks.
10. Great video ! Trading is the hardest thing I ever tried to do. There are a lot of easier ways to make a living with less risk.
    But if you make it a habit of making trades with less risk and a better reward/ risk, you start being consistent and that's the real thing everbody needs almost day after day and certainly every week.
11. With this money management system it is impossible to lose all your money in 1 year. But if you lost the 30% after the first quarter, your trading method needs a lot of help! What would be your profit target on this trade example? I know you use a trailing stop but just say you just wanted a decent return on a win?
12. "let our winners run and cut our losses short ..." by not listening to a broker who is working for commissions!
13. I have been using this money management system for a while now and now you are confirming this system, thanks Barry , it works and I first heard it from you,as far as I
    am concerned you are definitley a good teacher
14. Thanks again Barry. For those of us trying to learn outside of professional establishments, we are not aware of all the things which are always done or the things which are never done, we just struggle along trying to find out for ourselves what these ground rules are - and at what cost? This video should help many struggling traders to put a safety net under themselves and save their accounts. Thank you once again.
15. Thank you for a great video Dr. Barry..... Very helpful
16. Thanks Barry. Great advice! My mentor always told me not to risk more than 2%. I haven't always followed that advice with my small account but am lately leaning toward doing fewer, wiser trades. If I am at all unsettled on a given trading day and cannot clearly see momentum and direction then I do not trade that day. Previously I would have just jumped in on a trade regardless...as the song goes "Fools rush in"...