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Money management is an integral
Apr 26, 2021 at 10:37
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
Member Since Apr 21, 2021
1 posts
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.
Member Since Feb 20, 2021
51 posts
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.
Member Since Jun 15, 2021
13 posts
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.
Jul 05, 2021 at 11:35
@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.
Member Since Jun 08, 2021
9 posts
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?
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