Money Management Tips

Oct 19, 2020 at 06:48
7,337 Views
177 Replies
Member Since Aug 05, 2021   401 posts
Sep 22, 2022 at 16:35
Fx_keeth posted:
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.

Good tips! Super important for not blowing your account.
Member Since Nov 15, 2022   24 posts
Nov 30, 2022 at 08:57
Don't overtrade the market in forex , is what I learnt as a trader.
Member Since Jul 23, 2020   869 posts
Dec 03, 2022 at 10:39
Flourish your trading performance by adopting appropriate measure of actions. Majority of the forex traders suffer performance anxiety.
Member Since Feb 16, 2022   119 posts
Dec 06, 2022 at 18:19
To make every week profitable, you have to follow the right trading strategy. Don’t go for revenge trading and remain satisfied with what you have earned. But
Member Since Jul 23, 2020   869 posts
Dec 08, 2022 at 15:20
In Forex, knowledge is considered to nothing. Education is now quite easier than before because of the availability of internet. Read online e-books and watch video tutorials to flourish your knowledge.
Member Since Feb 15, 2022   219 posts
Dec 09, 2022 at 10:29
To capture these points, try to use trend lines and fibonacchi. It shows traders with different trading angles and points. Moving average and RSI are good indicators.
Member Since Apr 03, 2021   470 posts
Dec 11, 2022 at 21:20
There are so many professional traders suggest to take a risk not more than 2% from initial investment, with tight risk management hence will increasing opportunities open new order again when first trade get fail. Traders also can use pending order to manage tight risk management.
Member Since Dec 12, 2022   2 posts
Dec 12, 2022 at 08:48
Los tutoriales en vídeo son una gran herramienta para adquirir conocimientos prácticos. Con la ayuda de tales lecciones comencé a usar indicadores RSI
Never give up
Member Since Jan 21, 2022   57 posts
Dec 16, 2022 at 07:41
davesper posted:
I strongly advise you to think several times and calculate different options. Often people do not pay attention to this, and then the results are not the most positive.
this is strong advice. Newbies should keep their options and mind open to adapting to change and learn how to pick the right opportunities. To receive positive results, traders need to get their timing right. After all, without time and money management, it is tough to earn profit on a regular basis.
Member Since Aug 20, 2020   27 posts
Dec 19, 2022 at 14:00
For a trading career to be successful, money management is essential. You're setting yourself up for failure if you don't have a reliable system for controlling both your financial resources and your risks.
Member Since Apr 03, 2021   470 posts
Dec 21, 2022 at 23:24
AbbasAliKhan08 posted:
but the main problem is , to build a powerful money management need a long time experience with gre4at level of patience. so traders lost inter after passing sometime.
Yes, it is hard to keep the discipline to work based risk management plan, however, discipline is required to shape a successful trading strategy. Traders need strong psychology to keep discipline trading.
Member Since Mar 24, 2022   56 posts
Dec 22, 2022 at 12:33
Money is crucial to maintain, not just in the forex market but in life as well. If one does not know how to manage one's money, there will be all chaos and loss.
Member Since Mar 11, 2022   51 posts
Dec 22, 2022 at 13:21
NathanJr posted:
For a trading career to be successful, money management is essential. You're setting yourself up for failure if you don't have a reliable system for controlling both your financial resources and your risks.
That’s right. The key to surviving the risks of trading is to limit losses through proper money and risk management strategy. A risk management strategy will serve as a guide, telling you what to do and what not to do at any given point.
Member Since Sep 16, 2021   4 posts
Dec 22, 2022 at 13:52
I tried apps that would help me save money, but nothing worked. I am just bad at it.
Member Since Dec 20, 2022   2 posts
Dec 22, 2022 at 13:53
Money management is vital to living a beautiful life. It is essential in any investment.
Member Since Aug 02, 2022   22 posts
Jan 02, 2023 at 07:56
Forex trading is all about how you use your money, how much you lose, and how much you make. This calls for a strong money management plan that will help you trade properly so that you don’t feel that you are wasting your money at all.
Member Since Nov 29, 2022   40 posts
Jan 03, 2023 at 06:45
Some money management tips that you can follow are -: (1) setting clear trading goals and risk management strategies, (2) using stop-loss orders to minimise potential losses, (3) diversifying your portfolio to spread risk, (4) only risking a small percentage of your account balance on each trade, (5) avoiding the temptation to 'overtrade' or make impulsive trades, (6) regularly reviewing and adjusting your money management strategies as needed.
Member Since May 31, 2021   56 posts
Feb 15, 2023 at 08:10
For trading, sound money management is crucial. You should follow a few guiding ideas. Your money management guidelines should be used to determine the trade size. Don't risk more than 2% of your capital in a trade, which is the most common rule. You still might not be able to open many deals, though. Your overall risk should not be greater than 2% of your capital.
Member Since Oct 27, 2022   17 posts
Feb 20, 2023 at 11:08
Stick to your trading plan and avoid trading too frequently.
Member Since Feb 05, 2019   11 posts
Feb 20, 2023 at 17:17
Milex32 posted:
Alicent posted:
Stick to your trading plan and avoid trading too frequently.
It can be difficult to strictly follow your trading plan at times because the market changes frequently and you must make adjustments to your plan as well.

Not when it comes to money management. I would never adjust my plan. What is the point of making a plan if you change it all the time
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