Both money management and trading psychology

UweMoench

Mitglied seit Jul 19, 2020 749 Posts

Dec 29, 2020 at 15:02

Mitglied seit Jul 19, 2020 749 Posts

Both money management and trading psychology are key to success in forex trading. A person will fail with a good strategy if he/she ignores the importance of money management and trading psychology. It has been said that trading is 90% psychological. And it's true.

LyudmilLukanov

Mitglied seit Jul 23, 2020 816 Posts

Dec 29, 2020 at 17:21

Mitglied seit Jul 23, 2020 816 Posts

Trading is a mind game. So, it is better to trade with clear mind.

winklebew

Mitglied seit Nov 20, 2020 15 Posts

Jan 20, 2021 at 04:25

Mitglied seit Nov 20, 2020 15 Posts

I agree with you. Money management is quite necessary for every trader and they should focus on it. Managing risk is also important.

Malajind

Mitglied seit Aug 07, 2020 71 Posts

Jan 25, 2021 at 10:08

Mitglied seit Aug 07, 2020 71 Posts

I completely agree with you, because when we are able to manage our capital, we are able to manage our risks.

uxStyle

Mitglied seit Dec 26, 2018 29 Posts

Jan 25, 2021 at 18:23

Mitglied seit Dec 26, 2018 29 Posts

I agree with the idea that all problems are in the head. If you can't handle something, it means you're not really committed to it - that's a 100% fact.

Simonnon

Mitglied seit Sep 02, 2020 14 Posts

Jan 25, 2021 at 19:00

Mitglied seit Sep 02, 2020 14 Posts

The main thing is to take your time.
And check out the strategies that bring you money, and the approaches that give you confidence.

momo3HC

Mitglied seit Oct 20, 2018 283 Posts

Jan 26, 2021 at 20:34

Mitglied seit Oct 20, 2018 283 Posts

Risk management too.

momchil_slavov@

robindude

Mitglied seit Dec 11, 2020 81 Posts

Feb 23, 2021 at 08:27

Mitglied seit Dec 11, 2020 81 Posts

momo3HC posted:
Risk management too.

Was looking for this one. Yes, Risk management is very important to minimize the losses and increasin the risk reward output

AliaDare

Mitglied seit Jul 19, 2020 742 Posts

Mar 30, 2021 at 17:25

Mitglied seit Jul 19, 2020 742 Posts

Yes, of course, money management and trading psychology is a very important issue in forex trading. It is impossible to stay in trading without applying that formula. I know it will help me a lot to be successful.

Tradelist45

Mitglied seit Jun 26, 2020 323 Posts

Dec 26, 2021 at 08:03

Mitglied seit Jun 26, 2020 323 Posts

the success on money management depends on your trading plan , actually its all about a perfect knowledge , when you have then you can make a powerful money management which will support you for all time to avoid unfortunate risk and losses.

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Both money management and trading psychology