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Money Management Tips

Oct 19, 2020 at 06:48
6,344 Views
177 Replies
Member Since Jun 08, 2022   10 posts
Jul 18, 2022 at 17:01
Cathedra posted:
Here are some tips for managing your money:
1. Do not overtrade the market.
2. Divide your funds. Avoid putting your whole money in a single trade.
3. Decide how much you want to risk per trade.
4. Use stop loss order.
5. Calculate position size correctly.
6. Be careful while trading on leverage.

Good list. Using stop-loss has to be the #1 important one for me
Member Since Jul 04, 2022   1 posts
Jul 21, 2022 at 10:25
The advice you gave is very helpful. You need to think about the security of your finances in advance. This is especially true for working with traders, as it was already noted below in the comments. For example, I work as a doctor, but I always seek financial advice. You need to regularly set aside about 10-30% of the funds as soon as large amounts arrive, such as a salary or bonus. It is worth saving money even before paying all bills and purchases. There are a lot of useful articles on the Internet about this. Still, if someone suddenly wants to take the finance issue seriously, then the consultation https://www.thefinitygroup.com/financial-planning-for-physicians can help you. This is a complex topic, but it has a future perspective, so it is better to deal with it now. What do you think about it?
Member Since Jun 22, 2022   21 posts
Jul 21, 2022 at 11:23
Money management is critical in forex trading. Unfortunately, many traders are unconcerned about this. They do not practice proper money management since they are overconfident and greedy.
Member Since Jan 24, 2022   20 posts
Jul 21, 2022 at 12:23
Yes, money management is important but if emotional management is not done right, money management is not worth it.
Member Since Jul 19, 2022   22 posts
Jul 27, 2022 at 07:10
I see this 2% rule everywhere; almost everyone tells the same thing over and over again. This rule is true, but how many are willing to follow this advice is the question. Most traders forget this while trading.
Member Since Jul 26, 2022   49 posts
Jul 28, 2022 at 07:20
There are a number of things you can do to improve your money management when trading. One is to put in a stop loss and another one is to work harder to find trades with a good risk/reward ratio and avoid any high-risk trades.

Member Since Jun 02, 2022   23 posts
Aug 18, 2022 at 05:42
When it comes to forex trading, you must be really good at making use of your money. It’s not just about making money but also about saving your money. So, also develop skills to protect your capital while you are in the rage of making money.
Member Since Jul 28, 2022   11 posts
Aug 20, 2022 at 07:36
I have only one piece of advice which is to spend your money wisely. Think twice before putting it into action.
forex_trader_2983986
Member Since Aug 04, 2022   31 posts
Aug 20, 2022 at 11:16
If you are too emotional in placing stops, go semi auto. I Always advised Traders about this. That has been a long time benefits for me, As I Mostly have stop out positions. This give me much gains and limited stop outs.
Member Since Feb 15, 2022   183 posts
Aug 21, 2022 at 16:51

High security of funding is a blessing facility ensured by regulated brokers. Such regulated brokers allow traders with numerous trading advantages that ultimately increase traders’ return.
Member Since Apr 03, 2021   470 posts
Aug 22, 2022 at 00:19
How to minimize the risk in trading is important, we need to works using money management plan, included risk management, how to put stop loss we can using pending order in accordance to manage our risk in percentage, we can make sharp trading skills to get best price.
Member Since Aug 17, 2022   80 posts
Aug 22, 2022 at 04:34
In order to safeguard your capital and succeed in trading over the long run, it is crucial to have a solid grasp of the many aspects of risk and to implement a plan to control uncertainties.So Money management is important in all aspects of trading.
Member Since Aug 17, 2022   39 posts
Aug 22, 2022 at 05:10
The most basic money management Tips: Do not indulge in overtrading, Use Stop loss, trade only the amount that you can afford to put at risk.
forex_trader_2983986
Member Since Aug 04, 2022   31 posts
Aug 22, 2022 at 06:09
tyson_learner posted:
The most basic money management Tips: Do not indulge in overtrading, Use Stop loss, trade only the amount that you can afford to put at risk.
Rightly said. Stops is a Good step. I use Automated Stops and this reduces the work loads for me and increase profits.
Member Since Aug 17, 2022   45 posts
Aug 23, 2022 at 12:06
Money management will provide growth to your account when correctly trading a strategy with a positive expectancy. Some of the tips that I think can be useful for you:
1. Decide how much you want to risk per trade, and never over trade beyond your limits.
2. Always use Stop Loss orders to reduce their risk and avoid a potentially disastrous loss.

Member Since Aug 17, 2022   80 posts
Aug 24, 2022 at 03:52

Money plays an important role in trading, but one should focus on learning rather than focusing only on money.Money is the result of what you learn and apply.
Member Since Aug 08, 2022   20 posts
Aug 26, 2022 at 11:08
Successful traders are good money managers. They know how to manage their funds and invest it wisely in trades. You can start with dividing your funds into trades based on the probability of the trade. Doing this will ensure that even if you lose one trade you can still make profit from the other.
Member Since Aug 02, 2022   18 posts
Aug 26, 2022 at 11:56
You must never trade if you have not done your planning. The market may seem easy to understand until you lose your money. So, put a stop to your greed and be cautious about your moves.
Member Since Feb 16, 2022   63 posts
Aug 28, 2022 at 15:44
Newbies should learn how to determine the actual market trend because market trend plays a vital role to generate a signal over the market.
Member Since Jul 26, 2022   49 posts
Aug 31, 2022 at 07:16
The basic money management tip is to wisely use your money where needed.

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