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Money Management Tips

Henry (FirstHero)
Jul 30 2021 at 08:49
16 Posts
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 2021 at 13:57
558 Posts
@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 2021 at 23:42
355 Posts
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 2021 at 06:33
751 Posts
@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 2021 at 12:11
70 Posts
Risk management is the most important part of trading, i always only risk 1% per trade.
UweMoench
Aug 02 2021 at 12:22
751 Posts
@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 2021 at 12:27
41 Posts
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 2021 at 13:29
558 Posts
@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 2021 at 10:47
16 Posts
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 2021 at 13:26
939 Posts
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.
RobertFerrari
Jan 26 at 17:10
410 Posts
croisssan posted:
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.
Managing funds is the most important task in this market.
LeoGM
Feb 25 at 15:46
61 Posts
Michihito posted:
Money management is vital for trading. You ought to have a few principles to take after. Trading size ought to be chosen by your money management rules. The most popular rule is don't risk over 2% of your capital in a trade. But, it doesn't mean you can open many trades. Your aggregate risk ought not surpass 2% of your capital.
Yeah, but 2% is till now a big amount! My trading strategy provides only 75% accuracy , so I can’t more than 1% risk ratio on my individual trade position!
skihav
Feb 26 at 12:59
801 Posts
It is very important not to spend most of the deposit on one trade. You need to understand the balance.
Jamerson
Feb 28 at 09:10
28 Posts
Why is money management important for beginner traders and how can they reduce the risks involved in it?
asparagusmd
Feb 28 at 15:02
9 Posts
Jamerson posted:
Why is money management important for beginner traders and how can they reduce the risks involved in it?


Because without money management beginner trader will probably a lose all their money and not progress. Money management gives the beginner more time to get their plan in order
croisssan
Feb 28 at 16:52
939 Posts
It seems to me that cash management should be accurate and thoughtful. Otherwise, it will be very difficult to get the result.
Lionkingdom
Apr 04 at 19:04
24 Posts
Jamerson posted:
Why is money management important for beginner traders and how can they reduce the risks involved in it?
there is nothing more important for a beginner, than the right rules and tasks for managing money. This is the foundation that the future trader will cling to in the future, the strategy and vision of the market will be built on this.
Williamfreed
Apr 05 at 01:48
176 Posts
CraigMcG2020
Apr 05 at 07:05
381 Posts
asparagusmd posted:
Jamerson posted:
Why is money management important for beginner traders and how can they reduce the risks involved in it?


Because without money management beginner trader will probably a lose all their money and not progress. Money management gives the beginner more time to get their plan in order

It also gives the trader ample room for when a losing run comes along and it will. You need to stay in the fight as much as possible and management allows you to do that
AndrewMcCalam54
Apr 05 at 08:41
132 Posts
managing money is a great skill and to be experienced about this trading approach is a long time issue , so patience needed first of all.
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