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PriceAction13

Member Since Oct 08, 2016  58 posts PriceAction13 Feb 22 2018 at 10:03
Actually without proper money management even the best strategy would yield poor result. Money management begins with determining the lot size or allocation of capital to a trade. This is followed by assessment of risk to reward ratio and usage of stop loss and take profit facility. Unless and otherwise a trader is adept in all the criteria mentioned above, it would be very difficult to come out successfully in the long term. Very few traders are exceptional in money management and so they perform exceedingly well than others even when similar trading strategy is used.

To change your trading result, just change your thinking.
TiffanyK

Member Since Feb 12, 2016  427 posts Tiffany (TiffanyK) Feb 28 2018 at 16:07
If you have a really good strategy - you would already include the stop loss and take profit facilities. 90% of those actual good strategies include those components. Again I think that money management is important, but consider the trading strategy to be the starting priority.

Accept the loss as experience
Mohammadi

Member Since Aug 11, 2017  760 posts Mohammadi Mar 25 2018 at 05:28
There is nobody who is able to reduce loss completely from this volatile trading place, but taking some major steps it can be reduced sometimes. If we can manage our risk when trading practically then it is possible to reduce loss form before. So, we have to emphasis on risk management policy besides acquiring good trading knowledge.

mlawson71

Member Since Dec 11, 2015  1487 posts mlawson71 Mar 27 2018 at 06:41
Do you have any tips and advice about good money management?

Development101

Member Since Mar 13, 2018  10 posts Development101 Mar 28 2018 at 11:53
Don't risk more than you can afford to lose!

mlawson71

Member Since Dec 11, 2015  1487 posts mlawson71 Mar 28 2018 at 14:45
Development101 posted:
Don't risk more than you can afford to lose!


That's about as succinct and practical advice as it can get.
Also - always extensively test your strategies before implementing them on a live account.

Pandapaws

Member Since Mar 21, 2018  13 posts Pandapaws Mar 30 2018 at 12:36
backtesting is essential but I like to forward test on a demo as well for at least a month

Mohammadi

Member Since Aug 11, 2017  760 posts Mohammadi May 18 2018 at 10:41
The main issue in Forex is to keep survive continue. And for surviving in a proper way we the traders first of all have to make sure real exclusive educational facilities that are very supportive to be a knowledgeable trader rapidly. we can choose the broker which always ensures best trading environment for acquiring proper trading knowledge by providing exclusive educational facilities.

willtradr

Member Since Jul 09, 2019  25 posts willtradr Jul 29 2019 at 11:01
mlawson71 posted:
Do you have any tips and advice about good money management?



Money Management is a strategy that may decide the trader’s longevity. Even if somebody is a good trader but poor management will result chaos in his trading. Money management is all about risk management and leverage. A person with 70% win rate,poor money management on the 20% can wipe out whereas 60% win rate is still better with sound money management plan. You can avoid revenge trading and high risk trades. Although risk is inevitable but don’t risk more than you can’t afford.

Minhthang2603

Member Since Mar 05, 2017  20 posts Thang (Minhthang2603) Jul 30 2019 at 03:46
without capital management, how good your trading strategy is will only result in losses.

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EURUSD 1.17454 GBPUSD 1.28962
USDJPY 105.56 USDCAD 1.32829

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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. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.