Both money management and trading psychology

UweMoench
UweMoench
Dec 29, 2020 at 15:02
720 Views
9 Replies
UweMoench
UweMoench
Member Since Jul 19, 2020   751 posts
Dec 29, 2020 at 15:02
Both money management and trading psychology are key to success in forex trading. A person will fail with a good strategy if he/she ignores the importance of money management and trading psychology. It has been said that trading is 90% psychological. And it's true.
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LyudmilLukanov
LyudmilLukanov
Member Since Jul 23, 2020   869 posts
Dec 29, 2020 at 17:21
Trading is a mind game. So, it is better to trade with clear mind.
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winklebew
winklebew
Member Since Nov 20, 2020   17 posts
Jan 20, 2021 at 04:25
I agree with you. Money management is quite necessary for every trader and they should focus on it. Managing risk is also important.
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Malajind
Malajind
Member Since Aug 07, 2020   75 posts
Jan 25, 2021 at 10:08
I completely agree with you, because when we are able to manage our capital, we are able to manage our risks.
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uxStyle
uxStyle
Member Since Dec 26, 2018   34 posts
Jan 25, 2021 at 18:23
I agree with the idea that all problems are in the head. If you can't handle something, it means you're not really committed to it - that's a 100% fact.
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Simonnon
Simonnon
Member Since Sep 02, 2020   14 posts
Jan 25, 2021 at 19:00
The main thing is to take your time.
And check out the strategies that bring you money, and the approaches that give you confidence.
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momo3HC
momo3HC
Member Since Oct 20, 2018   300 posts
Jan 26, 2021 at 20:34
Risk management too.
momchil_slavov@
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robindude
robindude
Member Since Dec 11, 2020   110 posts
Feb 23, 2021 at 08:27
momo3HC posted:
Risk management too.
Was looking for this one. Yes, Risk management is very important to minimize the losses and increasin the risk reward output
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AliaDare
AliaDare
Member Since Jul 19, 2020   788 posts
Mar 30, 2021 at 17:25
Yes, of course, money management and trading psychology is a very important issue in forex trading. It is impossible to stay in trading without applying that formula. I know it will help me a lot to be successful.
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Tradelist45
Tradelist45
Member Since Jun 26, 2020   327 posts
Dec 26, 2021 at 08:03
the success on money management depends on your trading plan , actually its all about a perfect knowledge , when you have then you can make a powerful money management which will support you for all time to avoid unfortunate risk and losses.
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