168: Risk & Trade Management… But Not As You Know It w/ Jeffrey Benson

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Jeffrey Benson, a Nigerian Forex trader, has made it his mission to give back to those who want to get ahead in life and use trading as the vehicle. Jeffrey is a rare find in this industry where most things come with a price tag.

But what will surprise you most, is what you’re about to hear and see in the next hour.

Jeffrey’s trading technique uses very clever risk and trade management. This allows him to get into and out of trades without over exposing himself while still managing to attain huge rewards (and in some cases, flip small accounts).

So, what are you waiting for… jump in below:

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Podcast Interview

Interview Links

Instagram – @jeffrey_benson
YouTube – Jeffrey Benson

Recommended Books

Trading in the Zone by Mark Douglas
The Complete Turtle Trading by Michael Covel

Broker & Platform

Infinox
Exness
MetaTrader 4

Jeffrey’s Trading Strategy

Key Lessons

[11:20] As long as any strategy that you are using has an edge, it’s definitely going to work.

[12:53] What really matters is your risk management, money management, trade management, and your psychology.

[20:25] You need a very good way of managing trades.

[24:58] Trading generally is simple but it is not easy.

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[28:36] As long as the candles are moving, there is always an opportunity. But, it’s not every opportunity lies right for you.

[34:22] Doing a day job and trading is not easy.

[35:35] Do not risk too much. Risk at least from 0.5% to 1% per trade.

[40:50] The ability for you to know that the trade you’re currently on could either be a loss or a win and not start thinking win, win, win, win, will make you a better trader.

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[42:04] Do not judge yourself by the losing streak that you have today or this week, no. You have to start judging yourself by long-term like 6 months.

[45:52] You don’t think while you’re on a trade. You think before you hop on the trade.

[51:38] If you are young, you’ve got a lot of time, don’t play safe.