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Manage Money
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Sven98

Member Since Oct 22, 2019  32 posts Sven98 Oct 31 2019 at 11:53
mlawson71 posted:
Do you have any tips and advice about good money management?

Use Stop losses.

steveday1976

Member Since Mar 03, 2019  50 posts steveday1976 Nov 04 2019 at 11:17
Development101 posted:
Don't risk more than you can afford to lose!
This is essential, could be bad times ahead otherwise.

ForexViking69

Member Since Nov 06, 2019  25 posts ForexViking69 (ForexViking69) Nov 11 2019 at 23:24
This is the first thing I tell new traders, money management is not only key to trading but to investing in general. Some good advice :)

Winning...
Professional4X

Member Since Jan 05, 2016  1189 posts Professional4X Nov 13 2019 at 08:16
TiffanyK posted:
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.


It doesn't matter what the strategy is, if you aren't using effective Risk Management then you are putting your investments at risk.

Risk Management should ALWAYS be the highest priority.



If it looks too good to be true, it's probably a scam! Let the buyer beware.
ElliotCooke

Member Since Jul 20, 2020  87 posts ElliotCooke Sep 09 at 18:37
If you want to make money from this market, you need to have proper knowledge about money management. If you can not manage your money properly, it will be quite tough to make a profit from the market.

LeviSievwright5

Member Since Jul 20, 2020  72 posts LeviSievwright5 Sep 10 at 01:59
Trading is a market of possibilities. And if you want to make a profit in the market of possibilities, you must follow money management. Only money management can get you to the brink of success. Money management maintains discipline in trading and helps keep investments safe.

radioactive

Member Since Sep 07, 2020  27 posts radioactive Sep 10 at 05:35
Money management is and has always been very important technique to be conisdered while trading. It helps to keep your investment safe from facing any dangers

EllisParker

Member Since Jun 24, 2020  24 posts EllisParker Sep 10 at 07:10
ForexViking69 posted:
This is the first thing I tell new traders, money management is not only key to trading but to investing in general. Some good advice :)


Yeah totally. It helps you stay disciplined and rational.

Kazile

Member Since Apr 25, 2020  61 posts Kazile Sep 16 at 10:54
It really helps, but everything needs to be learned and given time so that in practice it can be applied.

GeorgeBischof

Member Since Jul 19, 2020  85 posts GeorgeBischof Sep 16 at 14:24
If you can set your money management perfectly it is obvious to make money from this market. Most of the traders lose their money because of their wrong money management policy.

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