forex articles/FXWW News

Future money managers, how are you spending your time?

Just a brief note today.

How do you spend your time during the system development process?

It should be something like this:

To reinforce the point I asked a hedge fund manager what his top tip for future money managers was today. His answer:

“I’d say gain an understanding of the metrics that they need to achieve, ideally before embarking on creating the track record – then devise a risk management/trading strategy that achieves those metrics.”

Next:

How do you spend your time during the trading process?

It should be something like this:

  • 30% on psychology (maintaining the right state)
  • 30% on managing existing positions/ risk management
  • 20% on your entries
  • 20% on recording/ journaling/ debriefing

How does your time spent compare to these?

(By the way this applies to all traders not, just money managers)

About the Author

Sam Eder is a currency trader and author of the Definitive Guide to Developing a Winning Forex Trading System and the Advanced Forex Course for Smart Traders. He is a key team member at premium FX services provider www.fxww.com and part owner of Forex Signal Provider FX Renew (You can get a free trial). If you like Sam’s writing you can subscribe to his newsletter for free.

About Sam Eder

Sam Eder is a currency trader and author of the Definitive Guide to Developing a Winning Forex Trading System. He is a member of the team at FXWW.

Leave a Reply

Your email address will not be published. Required fields are marked *