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Money management is extremely important

russellgutierrez (russellgutierrez)
Feb 19 at 04:36
56 Posts
jaspertan posted:
Money management helps you in knowing how much you should trade further so that you don’t end up blowing your account.

Yes, and apart from being important, it is a good thing to do. Believe me or not but money management has a great impact in the success of your trade. There is this thing that you should not trade more than 2% of what your value is because you also have to pay commissions on your trades. So try to manage money and trade through those brokers who do not charge much commissions like Oanda, IG, Fxview, XM or XTB.

jaspertan
Feb 19 at 07:06
15 Posts
russellgutierrez posted:
jaspertan posted:
Money management helps you in knowing how much you should trade further so that you don’t end up blowing your account.

Yes, and apart from being important, it is a good thing to do. Believe me or not but money management has a great impact in the success of your trade. There is this thing that you should not trade more than 2% of what your value is because you also have to pay commissions on your trades. So try to manage money and trade through those brokers who do not charge much commissions like Oanda, IG, Fxview, XM or XTB.

I myself follow this, that is why I am still trading in the market.

LyudmilLukanov
Jun 27 at 17:07
461 Posts
It is true. Otherwise, you will lose the money in a blink of an eye.

Akasuki
Jul 05 at 12:39
158 Posts
Yes without proper money management, no one can survive in the market. One may get initial success but that's not the end. Newbies should focus on money management from the beginning.

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