Yes, you are right. Everything in trading depends on money management. If money management is good, it is possible to earn a lot of money from trading. I have heard many people say that he cannot make a profit in trading. The only reason I see that he is not making a profit without money management. If you have a good trading strategy and you follow money management with it, you will make a profit one day. You need to use a good strategy that is world-famous.
There are lot of trading strategy in trading. Trader should follow according to their preference. As example, scalping is short time trading strategy. So, those who don’t have enough time they can try this kind of strategy.
Well said, if you have good money managment then you can be a profitable trader very easily. But sorry to say that most of the new trader do not have good money managment and strategy so they often fails in Forex.
New traders mostly fails due to lack of practice on demo accounts. I think one should must take proper practice and then came to real accounts for profit. I also have practice many years on demo account and now I am gaining a lot from forex trading.
No matter how good the strategy is in trading if money management and risk management are not followed, it is never possible to achieve success by trading. Many successful traders pay more attention to discipline than strategy. Many traders have not been able to make a profit even after trading for a long time. Because they are very emotional about trading and they never follow money and risk management
The best part of the forex strategy is money management –make sure every time you trade , you don’t risk more than 2-3% of you account otherwise you will break your account pretty soon. I learned that lesson from my own experience.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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Past performance is not indicative of future results.