Money Management Tips

AmDiab posted:
practice is important , i know but after passing sometime we the traders lost interest ,
so we have to make practice step by step.

That’s true. That’s why dedication is important. These who trade as a hobby cannot last long in trading.

@SofieAndreasen Yes dedication for learning is very important. Without dedication proper learning is not possible. With little bit knowledge and skills, it is not possible to make money in the forex market.

In forex trading, you need to be able to stick to your guns. You must have an unwavering commitment to do whatever it takes to reach your goal no matter how many times you get knocked down and that's what we call dedication.

Money management in forex trading is very important. But unfortunately many traders don't bother about. Out of overconfident and greed, they do not follow proper money management.

Akasuki posted:
Money management in forex trading is very important. But unfortunately many traders don't bother about. Out of overconfident and greed, they do not follow proper money management.

Yes. A proper money management is very important to make money from this market.

Money management is very important, as everyone points out. In fact, money management requires discipline in risk management. I personally take a 2% risk. because there are more casualties, I'm shutting down the process no matter what. But after I win a few times, self-confidence comes, and once money management risk management is forgotten and the transaction opens with big money, I give everything I earn. That's why I'm trying to get into the habit of risk management and money management.

Risk is easily accessible in Forex. But that's not the case in stocks. I use a special Excel program.

Learn everything and put it into practice the only way you can achieve results.

Money management needs to be part of a detailed trade plan that covers the investing policy, business strategy, entrance and exit triggers, as well as money management guidelines and which asset groups. While money management is of the utmost significance in commerce, keep in mind that it represents just one aspect of your business strategy.

Considering the advice and recommendations, you should always understand that for someone they work very well, but someone needs to adjust them to suit their style.

Money management is essential in trading. It is easy to lose money in trading.

I agree. Money management is very important that too when you are going for a bigger amount while trading. If you are managing your money and profits, then only you can do good in the next trades.

It is good to know your risk before opening each trade, and also use a forex manager to help you manage your positions, set TS and other functions, I have been using it since yesterday.

If you do not know how much you are risking when you enter a trade then you will never be successful

georgiaosborne posted:
I agree. Money management is very important that too when you are going for a bigger amount while trading. If you are managing your money and profits, then only you can do good in the next trades.

Without proper money management, no trader can become successful in this market.

Dedication is the most important thing while trading. It helps you in maintaining your interests all this while. Also, learning should not be discontinued even after you are earning in trading.

You just need to learn how to evaluate important points and prioritize.

i have a very common and boning question as like others , there is any major difference between money and risk management ? its all about same issue or any major difference between two ?

Tradelist45 posted:
i have a very common and boning question as like others , there is any major difference between money and risk management ? its all about same issue or any major difference between two ?

I think both are almost the same.

Tradelist45 posted:
i have a very common and boning question as like others , there is any major difference between money and risk management ? its all about same issue or any major difference between two ?

Money management is included in early trading preparation before making a deposit trader need to watching the amount saving money, don't use all saving money in forex but only spent money that affords to lose, money management in trading included how to chose position size, meanwhile, risk management is preparation about the risk, usually trader using stop loss to manage the risk.