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Money Management Tips

Henry (FirstHero)
Jul 30 at 08:49
16 příspěvků
My advice is to always know when you want to enter the market.
That is, your trades should not be spontaneous and the decision should not be made in a hurry.
Remember that if your plane is already taking off, then there is no point in catching up with it by car (unless of course you are Vin Diesel).

Family comes first.

Do not be greedy and invest in your business as much as you can.
Akasuki
Aug 01 at 13:57
334 příspěvků
@FirstHero Yes traders should have plans and checklists to enter into the market. If the market doesn't match with the checklists, do not enter into the market.

Suradi (FXOday)
Aug 01 at 23:42
165 příspěvků
Yes, in every trader will open entry, the trader need a reason why they open entry, not only because fear of missing out, but based on trading rules their trading system, if trading based indicator before make new entry make sure if indicator really confirmed new signal, if not yet get the signal don't trade, this is way to learn how to keep discipline

UweMoench
Aug 02 at 06:33
635 příspěvků
@FXOday But the problem is most traders do not have any proper rules. So they do not follow any rules. Most decisions are implusive.

Reece Rispoli (reece22)
Aug 02 at 12:11
54 příspěvků
Risk management is the most important part of trading, i always only risk 1% per trade.

UweMoench
Aug 02 at 12:22
635 příspěvků
@reece22 Taking 1% risk per trade is very good risk management policy. But if you open 10 trades at a time time that would be 10% risk. So we need to be careful about it.

mab8
Aug 02 at 12:27
41 příspěvků
It is very important to be aware of how you are trading. Money used in trades depends on your income, as well as how you decide to manage it in terms fo the various trades. The general rule is to stick to a percentage, such as 2% as you said , of the capital you have when trading. So a plan is important in these cases as it helps you keep better track of wht you intend to do.

Akasuki
Aug 02 at 13:29
334 příspěvků
@mab8 Yes you are right. Some can afford to lose 100$, but there people who can afford more to lose. It also depends on your trading skills and experience.

Henry (FirstHero)
Aug 16 at 10:47
16 příspěvků
Akasuki posted:
@FirstHero Yes traders should have plans and checklists to enter into the market. If the market doesn't match with the checklists, do not enter into the market.

The trading system must be configured to build this trading plan. I see that many traders try to adhere to a trading strategy, I mean, they use different methods of technical analysis, but their trades are spontaneous and based on hasty conclusions.

Do not be greedy and invest in your business as much as you can.
croisssan
Aug 16 at 13:26
457 příspěvků
The ability to properly manage funds for a trader plays a very important role. It should be understood that this is what in many cases helps the trader to make the right decision.

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