To use chat, please login.
Back to contacts

Money Management Tips

Oct 19, 2020 at 06:48
4,819 Views
188 Replies
Biedrs kopš   27 ieraksti
Dec 19, 2022 at 14:00
For a trading career to be successful, money management is essential. You're setting yourself up for failure if you don't have a reliable system for controlling both your financial resources and your risks.
Suradi (FXOday)
Biedrs kopš   470 ieraksti
Dec 21, 2022 at 23:24
AbbasAliKhan08 posted:
but the main problem is , to build a powerful money management need a long time experience with gre4at level of patience. so traders lost inter after passing sometime.
Yes, it is hard to keep the discipline to work based risk management plan, however, discipline is required to shape a successful trading strategy. Traders need strong psychology to keep discipline trading.
Biedrs kopš   56 ieraksti
Dec 22, 2022 at 12:33
Money is crucial to maintain, not just in the forex market but in life as well. If one does not know how to manage one's money, there will be all chaos and loss.
Biedrs kopš   51 ieraksti
Dec 22, 2022 at 13:21
NathanJr posted:
For a trading career to be successful, money management is essential. You're setting yourself up for failure if you don't have a reliable system for controlling both your financial resources and your risks.
That’s right. The key to surviving the risks of trading is to limit losses through proper money and risk management strategy. A risk management strategy will serve as a guide, telling you what to do and what not to do at any given point.
Biedrs kopš   4 ieraksti
Dec 22, 2022 at 13:52
I tried apps that would help me save money, but nothing worked. I am just bad at it.
Biedrs kopš   2 ieraksti
Dec 22, 2022 at 13:53
Money management is vital to living a beautiful life. It is essential in any investment.
Biedrs kopš   22 ieraksti
Jan 02 at 07:56
Forex trading is all about how you use your money, how much you lose, and how much you make. This calls for a strong money management plan that will help you trade properly so that you don’t feel that you are wasting your money at all.
Biedrs kopš   40 ieraksti
Jan 03 at 06:45
Some money management tips that you can follow are -: (1) setting clear trading goals and risk management strategies, (2) using stop-loss orders to minimise potential losses, (3) diversifying your portfolio to spread risk, (4) only risking a small percentage of your account balance on each trade, (5) avoiding the temptation to 'overtrade' or make impulsive trades, (6) regularly reviewing and adjusting your money management strategies as needed.
Biedrs kopš   56 ieraksti
Feb 15 at 08:10
For trading, sound money management is crucial. You should follow a few guiding ideas. Your money management guidelines should be used to determine the trade size. Don't risk more than 2% of your capital in a trade, which is the most common rule. You still might not be able to open many deals, though. Your overall risk should not be greater than 2% of your capital.
Biedrs kopš   17 ieraksti
Feb 20 at 11:08
Stick to your trading plan and avoid trading too frequently.
Biedrs kopš   11 ieraksti
Feb 20 at 17:17
Milex32 posted:
Alicent posted:
Stick to your trading plan and avoid trading too frequently.
It can be difficult to strictly follow your trading plan at times because the market changes frequently and you must make adjustments to your plan as well.

Not when it comes to money management. I would never adjust my plan. What is the point of making a plan if you change it all the time
Biedrs kopš   50 ieraksti
Feb 21 at 12:37
In my opinion best money management tip is to use a stop loss.
Biedrs kopš   63 ieraksti
Feb 28 at 11:28
With my trading experience, here are some money management tips for forex trading:

1. Set a budget you're comfortable with
2. Use stop-loss orders to limit losses
3. Use leverage carefully
4. Stick to your trading plan
5. Don't risk more than 2% of your account on any single trade.
Biedrs kopš   15 ieraksti
Mar 07 at 07:05
Well said above, especially 5th point. Never ever risk more than 2%.
Biedrs kopš   327 ieraksti
Mar 09 at 13:02
to maintain risk management 2% at all times is really a challenging issue , because market moves at random most of the time.
Mar 10 at 05:00 (labots Mar 10 at 05:00)
I try to use leverage cautiously and limit my exposure to the market.
Biedrs kopš   80 ieraksti
Mar 13 at 12:23
Maverwallace_5 posted:
I try to use leverage cautiously and limit my exposure to the market.
Even me, I always keep limits to my leverage usage.
Biedrs kopš   20 ieraksti
Mar 16 at 11:39
Imo money management in forex is a crucial aspect, so it's better to set a stop loss, use proper risk-reward ratios before entering a trade, trade with a plan, and, monitor your trades.
Biedrs kopš   18 ieraksti
Mar 21 at 12:56
One important money management tip is to create a budget and stick to it.
Biedrs kopš   4 ieraksti
Mar 22 at 16:48
Well.

I´m trading over 100k accounts and rarely i go above 1 lot. Usually 0.30 and scale up if the trade is going my way. With a 500 pip move that is well above 1000$ in profit. But my loss is tiny.

I do scalp the stock market, again less than 200 shares or about.

This is how we stay in the game

Pieslēgties / Sign Up to comment
You must be connected to Myfxbook in order to leave a comment
*Spams netiks pieļauts, un tā rezultātā var slēgt kontu.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.