Manage Money

Success depends on strategy money, risk.

Money management is essential causes leverage makes us control a huge quantity of money.

ForexViking69 posted:
This is the first thing I tell new traders, money management is not only key to trading but to investing in general. Some good advice :)

I agree with you.

PriceAction13 posted:
Actually without proper money management even the best strategy would yield poor result. Money management begins with determining the lot size or allocation of capital to a trade. This is followed by assessment of risk to reward ratio and usage of stop loss and take profit facility. Unless and otherwise a trader is adept in all the criteria mentioned above, it would be very difficult to come out successfully in the long term. Very few traders are exceptional in money management and so they perform exceedingly well than others even when similar trading strategy is used.

Definitely agree

The toughest task in trading activity is o manage your funds I guess. You can be a master of trading but if you can't manage your funds, it will definetely lead you to the blowing of your account. It can sound very disappointing, nevertheless it's exactly like that. I guess money management practices aren't so tough to learn, the main idea here is to understand that you should wisely extimate your strengths and understand whether you're sure in particular position or not. If you're sure, then you can open a position with more tha 5% from your account.

Hardolian posted:
The toughest task in trading activity is o manage your funds I guess. You can be a master of trading but if you can't manage your funds, it will definetely lead you to the blowing of your account. It can sound very disappointing, nevertheless it's exactly like that. I guess money management practices aren't so tough to learn, the main idea here is to understand that you should wisely extimate your strengths and understand whether you're sure in particular position or not. If you're sure, then you can open a position with more tha 5% from your account.

Yes. money management is the most difficult thing in this market.

this aspect should always be in the head of every trader, without proper organization of your work you will not go far in forex

Don’t commit over-trading because it will gradually decrease your equity and thus will take your balance to the crash level. Traders have to kill these habitual issues to survive in Forex for long.