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Yeah you are right. Money management is very important. Another thing is also very important which is control of your mind. If you can't control your mind, you will end up opening trades without any reason. That's why discipline is needed as well.
Every trader needs to keep in mind that trading strategy should be simple and select the appropriate trading strategy that suits his needs. This will help to make the right trading decisions, measure the amount of risk trader is willing to take.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.
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