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Money Management Tips

Cathedra
Jul 14 at 04:37
33 posts
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.
Briosody
Jul 15 at 04:22
48 posts
Money management is perfect for most traders to prevent heavy losses. It is not compulsory; most traders even consider lower percentages. But it is okay to use because the maximum allowable loss is 2 per cent and not more than that.
SteveFx11
Jul 15 at 04:37
148 posts
In the initial time of Forex trading, every trader feel pleased but with time it fades away because traders suffer losses.
Zaftig
Jul 15 at 06:32
22 posts
I agree with you. Risk management cannot be denied; we have to follow risk management rules to trade. As we get involved in the journey and explore it, we find many different situations along the way. These situations will help you grow in the forex market as they will help you open your mind to different situations. Your trading will eventually carry you to perfection. Risk management will evolve with time. Of course, the things I mentioned above are valid only for those who are serious about trading.
RobertFerrari
Jul 15 at 08:36
415 posts
New traders must make demo trading their companion for the sake of their trading. Demo is like a practice ground which incorporates everything like the real trading platform.
Boondocks
Jul 18 at 10:43
18 posts
Money management is a skill that is acquired over a period of time and not just book based knowledge.
F1FXANA
Jul 18 at 17:01
10 posts
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
sisilebaranovic
Jul 21 at 10:25
1 posts
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?
Hydrophilous
Jul 21 at 11:23
21 posts
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.
Vicenox
Jul 21 at 12:23
20 posts
Yes, money management is important but if emotional management is not done right, money management is not worth it.
Catice
Jul 26 at 09:57
21 posts
You need money management skills to not lose more than you can handle. It’s not about taking a big risk all at once but staying in the market in the long run so that you can make a number of profits.
Potatory
Jul 27 at 07:10
18 posts
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.
Yiannis_trader
Jul 28 at 07:20
49 posts
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.

Ricochet
Aug 03 at 10:01
24 posts
The best you can do to manage your money is to never take a risk that you don’t understand. Take advantage of your broker’s low deposit requirements and obtain experience until you are ready for the challenges.
Cumward
Aug 18 at 05:42
23 posts
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.
Ameliaxo35
Aug 18 at 08:12
13 posts
Money management can build a trader into a successful. Money management is followed by trading discipline. I prefer to open trades that match all the criteria of my strategy and mind set.
Amytradesforex
Aug 18 at 10:14
23 posts
Money management is always very important as it prevents you from committing more than you can lose.
thepioneer10
Aug 20 at 07:36
11 posts
I have only one piece of advice which is to spend your money wisely. Think twice before putting it into action.
ProfitsByTrends (PensionPayout)
Aug 20 at 11:16
31 posts
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.
Profit Is Always The Aim
Imamul
Aug 21 at 04:38
740 posts
managing money is a great level of skill that is really rare , we need to pass a long time in there to develop our money management.
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