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Money management is extremely important

UweMoench
Jan 29 2021 at 13:39
751 posts
Money management is extremely important in trading. By far most of individuals slump in trading since they don't take after incredible money management rules. You can't risk more than 2% of your capital. You can take one trade or a couple but total risk should not outperform 2% of your capital.
SofieAndreasen
Jan 29 2021 at 17:49
759 posts
To survive in the market, money management is important. Trader should also follow minimum 1:2 risk reward ratio.
forextrader777
Jan 30 2021 at 09:33
133 posts
Yeah, that’s right.
You must know how to manage your money. You should not put up all your money in the market in one go.
Michihito
Feb 01 2021 at 10:47
298 posts
To manage my risk I take after some strick money management rules. Initially I take after 2% cash management run the show. I never open trade woth over 2% of my value. I don't trade ordinary. I just open trade when I get a decent trading set up as per my procedure.
ManuDo
Feb 02 2021 at 07:14
9 posts
Yes, that's right, in my opinion, only with risk management can you really trade profitably. As a tip, I use a tool called Pipz for this. Perhaps you've heard of it before, it's really easy to calculate and manage the risk.
If someone is interested: https://pipz.info
For me its also important, that you lower your Risk while trading if the Trade is not working like planned and keep your losses small.
Cheers! :)
Imamul
Feb 02 2021 at 10:18
740 posts
there is any different between money and risk management ? i sometimes feel its all about same issue nothing , without it.
LeviSievwright5
Feb 10 2021 at 15:34
298 posts
Money management helps 95% of traders to succeed. So every trader should maintain money management.
Russel Gutierrez (russellgutierrez)
Feb 18 2021 at 04:03
56 posts
LeviSievwright5 posted:
Money management helps 95% of traders to succeed. So every trader should maintain money management.
If you don’t want to lose your money, you have to manage it. It is important and it should be done.
jaspertan
Feb 18 2021 at 07:57
15 posts
Money management helps you in knowing how much you should trade further so that you don’t end up blowing your account.
ElliotCooke
Feb 18 2021 at 09:33
341 posts
First, you have to do demo trading. In addition to demo trading, you need to do a lot of research on information and market conditions. Properly learn how to manage money and maintain risk rewards. As a new trader, if these strategies are followed properly, successful trading is possible.
Russel Gutierrez (russellgutierrez)
Feb 19 2021 at 04:36
56 posts
jaspertan posted:
Money management helps you in knowing how much you should trade further so that you don’t end up blowing your account.
Yes, and apart from being important, it is a good thing to do. Believe me or not but money management has a great impact in the success of your trade. There is this thing that you should not trade more than 2% of what your value is because you also have to pay commissions on your trades. So try to manage money and trade through those brokers who do not charge much commissions like Oanda, IG, Fxview, XM or XTB.
jaspertan
Feb 19 2021 at 07:06
15 posts
russellgutierrez posted:
jaspertan posted:
Money management helps you in knowing how much you should trade further so that you don’t end up blowing your account.
Yes, and apart from being important, it is a good thing to do. Believe me or not but money management has a great impact in the success of your trade. There is this thing that you should not trade more than 2% of what your value is because you also have to pay commissions on your trades. So try to manage money and trade through those brokers who do not charge much commissions like Oanda, IG, Fxview, XM or XTB.
I myself follow this, that is why I am still trading in the market.
LyudmilLukanov
Jun 27 2021 at 17:07
848 posts
It is true. Otherwise, you will lose the money in a blink of an eye.
Akasuki
Jul 05 2021 at 12:39
599 posts
Yes without proper money management, no one can survive in the market. One may get initial success but that's not the end. Newbies should focus on money management from the beginning.
RobSchiz
Nov 03 2021 at 20:15
567 posts
Akasuki posted:
Yes without proper money management, no one can survive in the market. One may get initial success but that's not the end. Newbies should focus on money management from the beginning.
Yes. You are right.
RobertFerrari
Dec 21 2021 at 18:19
415 posts
Akasuki posted:
Yes without proper money management, no one can survive in the market. One may get initial success but that's not the end. Newbies should focus on money management from the beginning.
Money management helps a trader to make all the decisions correctly and carefully.
whitneytyler
Dec 31 2021 at 04:22
72 posts
RobertFerrari posted:
Akasuki posted:
Yes without proper money management, no one can survive in the market. One may get initial success but that's not the end. Newbies should focus on money management from the beginning.
Money management helps a trader to make all the decisions correctly and carefully.
Indeed! Forex is about minimising risk. If you are good at managing money, then profits will automatically come.

Some things I use in money management-

1) Use of stop loss and take profit order.
2) Assign a risk and reward ratio to my trades.
3) Risk money which I can afford to lose.
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