Money Management Tips
Oct 19, 2020 at 06:48
Money management is vital for trading. You ought to have a few principles to take after. Trading size ought to be chosen by your money management rules. The most popular rule is don't risk over 2% of your capital in a trade. But, it doesn't mean you can open many trades. Your aggregate risk ought not surpass 2% of your capital.
Member Since Aug 17, 2020
123 posts
Oct 21, 2020 at 14:33
You are very right. I think money management is a skill that should be taught to people as they grow up, it is important to everyone, not just people who trade or invest. If you trade to make a living or make money for your retired years, you also have to be very aware of how much money you need each month.
Member Since Jul 20, 2020
341 posts
Oct 27, 2020 at 09:46
If you want to build a successful career in the forex market, you have to make the proper management of your money. This is the most important thing to do in forex trading to make profits.
Member Since Mar 16, 2020
54 posts
Oct 27, 2020 at 11:57
Money management is the part of risk management and it is really important for every trader.
Member Since Aug 24, 2020
13 posts
Oct 27, 2020 at 12:29
Money management is second only to trading psychology. I use a risk ratio of 1:1.5 and I don't risk over 2% of my capital per trade with a max of 5 open trades.
Be more financially free then yesterday.
Member Since Jul 20, 2020
298 posts
Oct 28, 2020 at 01:23
It is not possible to make a consistent profit if money management is not maintained properly. Many traders focus on money management the most. Because if you want to succeed in trading, you must use money management.
Oct 30, 2020 at 10:26
To better last with your money you need to get rid of dreed for money most of the traders develop greed the moment they make a significant amount on their first few days trading forex and son they keep on trading recklessly with the hope that they will make a lot of cash.
Oct 30, 2020 at 11:07
As a forex trader you need to trade with a plan because that is when you will enable to properly manage your money because a trading plan and money management are pretty much similar and it is all about how you take it that determines how you are going to make it in forex, If you want success shine you need to manage your money as best as possible.
Oct 30, 2020 at 12:34
The best money management tip that you can get when you join forex is that i should never put in your savings to forex trading no matter how good you think you are. If you are going put in your savings then put in a very small amount from your savings that will not have a huge impact if you lose it all. Forex is al about risks.
Member Since Jul 19, 2020
318 posts
Oct 30, 2020 at 19:17
Money management in the forex market is the most difficult job. If you can not make it perfectly you have to face a great loss.
Member Since Aug 17, 2020
123 posts
Nov 02, 2020 at 07:40
Trallod posted:
To better last with your money you need to get rid of dreed for money most of the traders develop greed the moment they make a significant amount on their first few days trading forex and son they keep on trading recklessly with the hope that they will make a lot of cash.
Yes, also many traders come into forex greedy to begin with, not being aware how important it is to know how much risk they can afford to take.
Nov 02, 2020 at 10:13
The answers for all complex questions are found in basic concepts. The key to money management is obtained by blindly following these tips;
1. Conduct Thorough Research
2. Be realistic in your approach
3. Manage your money
4. Speak to other traders
5. Always use a stop loss
1. Conduct Thorough Research
2. Be realistic in your approach
3. Manage your money
4. Speak to other traders
5. Always use a stop loss
The more your practice, the more you learn.
Nov 02, 2020 at 12:19
DoraWalletInvest posted:Trallod posted:
To better last with your money you need to get rid of dreed for money most of the traders develop greed the moment they make a significant amount on their first few days trading forex and son they keep on trading recklessly with the hope that they will make a lot of cash.
Yes, also many traders come into forex greedy to begin with, not being aware how important it is to know how much risk they can afford to take.
Fear is really very constraining and does not provide an opportunity to make and the right decision, and the sooner we learn to cope with it, the easier it will be when new to trade.
