Apr 20 2021 at 15:51
Ferdii posted:
Try to start managing your capital at the stage of practicing a demo account, then you will be able to understand how complete your knowledge is.
Yes. Demo is very important before starting with the real money.
Apr 21 2021 at 00:15
Sarjohn posted:
Yes knowledge of risk management, price action, money management, chart patterns are important to become successful in trading.
No matter what strategy I use, I need to follow money management and risk management first.
Apr 22 2021 at 05:35
Money management is something no trader can do without in the forex market.
Apr 22 2021 at 07:16
managing money is a great skill in this trading place and need a long time patience to be experienced about that.
Apr 23 2021 at 10:53
Yes, no one can ignore that aspect in forex if they actually have to make money in the market.
Knowledge and skills in money management cannot be acquired without proper experience. Just by reading the book, you will not be able to apply the accumulated knowledge in practice. But systematic training and practical application of the basics of money management will help you become a real expert in the field of Forex trading.
A walking person is always faster than a standing person
Problem is most traders do not want to manage their risk. They suffer from overconfidence. As a result they lose money again and again and very few learn the lesson.
UweMoench posted:
Money management is an integral part of forex trading. If anyone is not having any money management policy, he/she is never gonna be a good trader ever. You need to follow some good and realistic money management system.
100% i spent years just following blindly and not understanding the risks. i would make some profit and then blow the account was never managing anything. now i have been learning all the indicators have gone and the signal providers just using market moves price action an correct risk management now slowly building profit long term
Our total risk should not be above 2%. Now it could be 2% in a single position or all the open positions. Some traders take 2% risk per trade then open 5 trade which becomes 10% risk. We should not do this type of mistakes.
Jun 06 2021 at 11:30
UweMoench posted:100% true
Our total risk should not be above 2%. Now it could be 2% in a single position or all the open positions. Some traders take 2% risk per trade then open 5 trade which becomes 10% risk. We should not do this type of mistakes.
Money Management is a very much an important factor of forex trading. If you have a good money management then it will be easy to make a good way in forex trading.
dare to manage your capital if you want to minimize your risks and not lose your funds.
Money management can be hard and boring but without putting in the effort you will surely lose
doughnuts posted:
Money management can be hard and boring but without putting in the effort you will surely lose
Without proper money management, you can not survive in this market.
Money management must become an integral part for trading to be successful.
Jun 30 2021 at 06:24
Keeping a trading planner with money management factors included is very important for every trader. This ensures that the trader is not dropping the money anywhere between the actual investments.
Jun 30 2021 at 06:50
For money management I maintain trading journal, this helps me to track that which strategies and trade amounts have gave me the good bunch and with that it also helps me to improve my further trades by looking at past areas of improvement.
@thespreader That is a good approach to manage risk. Learning from the past mistakes is the best learning. Those who do not take lesson from past mistakes can not do well.
Jul 05 2021 at 12:01
It looks like everyone agrees the importance of money management but what does this mean in practice. What are YOUR money management strategies?
Jul 07 2021 at 04:40
Money management refers to understanding where and when the money should be invested and withdrawn according to the prevailing market conditions and trends. Having adequate knowledge about it is crucial for making investment decisions.
