Money Management Tips

Oct 19, 2020 at 06:48
7,246 Views
177 Replies
Member Since Oct 28, 2022   50 posts
Feb 21, 2023 at 12:37
In my opinion best money management tip is to use a stop loss.
Member Since Sep 07, 2020   63 posts
Feb 28, 2023 at 11:28
With my trading experience, here are some money management tips for forex trading:

1. Set a budget you're comfortable with
2. Use stop-loss orders to limit losses
3. Use leverage carefully
4. Stick to your trading plan
5. Don't risk more than 2% of your account on any single trade.
Member Since Oct 06, 2021   15 posts
Mar 07, 2023 at 07:05
Well said above, especially 5th point. Never ever risk more than 2%.
Member Since Jun 26, 2020   327 posts
Mar 09, 2023 at 13:02
to maintain risk management 2% at all times is really a challenging issue , because market moves at random most of the time.
Member Since Jan 12, 2023   20 posts
Mar 10, 2023 at 05:00 (edited Mar 10, 2023 at 05:00)
I try to use leverage cautiously and limit my exposure to the market.
Member Since Aug 17, 2022   80 posts
Mar 13, 2023 at 12:23
Maverwallace_5 posted:
I try to use leverage cautiously and limit my exposure to the market.
Even me, I always keep limits to my leverage usage.
Member Since Feb 04, 2023   20 posts
Mar 16, 2023 at 11:39
Imo money management in forex is a crucial aspect, so it's better to set a stop loss, use proper risk-reward ratios before entering a trade, trade with a plan, and, monitor your trades.
Member Since Jan 23, 2023   18 posts
Mar 21, 2023 at 12:56
One important money management tip is to create a budget and stick to it.
Member Since Sep 19, 2021   4 posts
Mar 22, 2023 at 16:48
Well.

I´m trading over 100k accounts and rarely i go above 1 lot. Usually 0.30 and scale up if the trade is going my way. With a 500 pip move that is well above 1000$ in profit. But my loss is tiny.

I do scalp the stock market, again less than 200 shares or about.

This is how we stay in the game

Member Since Nov 20, 2022   8 posts
Mar 23, 2023 at 09:05
Same we use 0.01 for our copytrading, currently helping 5000 clients copying my trades
Consistency is key of all time
Member Since Jun 26, 2020   327 posts
Mar 24, 2023 at 08:45
sometimes money management works to fail , this is the dark side of this market place , there is nothing 100% in there.
Member Since Jun 26, 2020   327 posts
Mar 27, 2023 at 09:03
what you think guys there is any different between money and risk management ?
Member Since Mar 28, 2023   1 posts
Mar 28, 2023 at 22:03
I completely agree with you that money management is crucial for successful trading. It is essential to have a set of principles to follow and to choose your trading size based on your money management rules.

Risk management is a critical aspect of money management, and the rule you mentioned, not risking more than 2% of your capital in a single trade, is a commonly used and effective guideline. This rule helps to limit potential losses and protect your capital.
Member Since Jun 26, 2020   327 posts
Mar 30, 2023 at 09:17
good information , thanks for nice reply
Member Since Apr 18, 2020   54 posts
Apr 04, 2023 at 11:57
davesper posted:
In fact, there are only two scenarios in the market - either you control money, or money controls you.
Yeah! that's true. But at least we can take precautions to control the risk by using stop loss and other risk management strategies.
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