Forex Trading: Risk Management Ultimate Guide - Michael Toma

In this video, we sit down with Michael Toma to discuss risk management for traders. You'll learn the main concepts of risk management in Forex trading. We also discuss risk management for prop firm trading. As you know there are statistics you need to respect to get funded and keep your account. Michael is an expert on managing risk in trading.

Michael Toma wrote the book The Risk Of Trading (Wiley): https://geni.us/ctSp

Program Michael Toma is teaching at Desire To Trade: https://d2t.link/prop-firm

Get my free VIP Trader Growth emails daily & strategy course: https://desiretotrade.co/bbr-course

#riskmanagement #forextrading #traderinterview

Chapters:
0:00 Start
0:19 Introduction
1:02 Basics of risk management as a trader
1:47 Why SL placement is only a tiny part of risk management
2:41 Risk of Ruin in trading
3:47 What things can a trader do to influence their Risk of Ruin
4:53 Why win rate by itself doesn't matter
5:37 Why identification is really important for traders
7:30 Metrics to evaluate trading performance
8:56 Why high-performance metrics can be bad
10:17 What matters most to get a job at a prop firm
12:14 How can you prevent losing a funded prop firm account
14:00 How to know if your strategy works for a prop firm
16:47 What else should you look at in the current markets
19:20 How do news events affect your risk management
20:40 How you can work with Michael Toma

// SOCIAL
Forex Trader Community (Facebook Group): https://d2t.link/FBgroup
Facebook: https://www.facebook.com/desiretotrade/
Twitter: @desiretotrade
IG: @etiennecrete

// TRADING MUST-HAVE RESOURCES
Forex Broker (Pepperstone): https://d2t.link/pepperstone
Forex Broker for Canada (Axi): https://d2t.link/axitrader
Best Platform: https://d2t.link/tradingview
Backtesting Tool: https://d2t.link/soft4fx
VPS (for algo trading): https://d2t.link/vps
Trading Journal: https://d2t.link/journal

// ABOUT ME
My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.

I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That's why you can expect more free content from me than what other people charge for!

If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you're good at.

// Disclaimer
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.

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