Manage Money
Členom od Oct 08, 2016
58 príspevkov
Feb 22, 2018 at 10:03
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.
To change your trading result, just change your thinking.
Tiffany (TiffanyK)
Členom od Feb 12, 2016
427 príspevkov
Feb 28, 2018 at 16:07
If you have a really good strategy - you would already include the stop loss and take profit facilities. 90% of those actual good strategies include those components. Again I think that money management is important, but consider the trading strategy to be the starting priority.
Accept the loss as experience
Členom od Aug 11, 2017
886 príspevkov
Mar 25, 2018 at 05:28
There is nobody who is able to reduce loss completely from this volatile trading place, but taking some major steps it can be reduced sometimes. If we can manage our risk when trading practically then it is possible to reduce loss form before. So, we have to emphasis on risk management policy besides acquiring good trading knowledge.
Členom od Dec 11, 2015
1487 príspevkov
Mar 27, 2018 at 06:41
Do you have any tips and advice about good money management?
Členom od Mar 13, 2018
13 príspevkov
Mar 28, 2018 at 11:53
Don't risk more than you can afford to lose!
Členom od Dec 11, 2015
1487 príspevkov
Mar 28, 2018 at 14:45
Development101 posted:
Don't risk more than you can afford to lose!
That's about as succinct and practical advice as it can get.
Also - always extensively test your strategies before implementing them on a live account.
Členom od Mar 21, 2018
13 príspevkov
Mar 30, 2018 at 12:36
backtesting is essential but I like to forward test on a demo as well for at least a month
Členom od Aug 11, 2017
886 príspevkov
May 18, 2018 at 10:41
The main issue in Forex is to keep survive continue. And for surviving in a proper way we the traders first of all have to make sure real exclusive educational facilities that are very supportive to be a knowledgeable trader rapidly. we can choose the broker which always ensures best trading environment for acquiring proper trading knowledge by providing exclusive educational facilities.
Členom od Jul 09, 2019
26 príspevkov
Jul 29, 2019 at 11:01
mlawson71 posted:
Do you have any tips and advice about good money management?
Money Management is a strategy that may decide the trader’s longevity. Even if somebody is a good trader but poor management will result chaos in his trading. Money management is all about risk management and leverage. A person with 70% win rate,poor money management on the 20% can wipe out whereas 60% win rate is still better with sound money management plan. You can avoid revenge trading and high risk trades. Although risk is inevitable but don’t risk more than you can’t afford.
Thang (Minhthang2603)
Členom od Mar 05, 2017
20 príspevkov
Jul 30, 2019 at 03:46
without capital management, how good your trading strategy is will only result in losses.
Členom od Oct 22, 2019
41 príspevkov
Oct 31, 2019 at 11:53
mlawson71 posted:Use Stop losses.
Do you have any tips and advice about good money management?
Členom od Mar 03, 2019
57 príspevkov
Nov 04, 2019 at 11:17
Development101 posted:This is essential, could be bad times ahead otherwise.
Don't risk more than you can afford to lose!
ForexViking69 (ForexViking69)
Členom od Nov 06, 2019
48 príspevkov
Nov 11, 2019 at 23:24
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 :)
Winning...
Členom od Jan 05, 2016
1189 príspevkov
Nov 13, 2019 at 08:16
TiffanyK posted:
If you have a really good strategy - you would already include the stop loss and take profit facilities. 90% of those actual good strategies include those components. Again I think that money management is important, but consider the trading strategy to be the starting priority.
It doesn't matter what the strategy is, if you aren't using effective Risk Management then you are putting your investments at risk.
Risk Management should ALWAYS be the highest priority.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Členom od Jul 20, 2020
341 príspevkov
Sep 09, 2020 at 18:37
If you want to make money from this market, you need to have proper knowledge about money management. If you can not manage your money properly, it will be quite tough to make a profit from the market.
Členom od Jul 20, 2020
298 príspevkov
Sep 10, 2020 at 01:59
Trading is a market of possibilities. And if you want to make a profit in the market of possibilities, you must follow money management. Only money management can get you to the brink of success. Money management maintains discipline in trading and helps keep investments safe.
Členom od Sep 07, 2020
63 príspevkov
Sep 10, 2020 at 05:35
Money management is and has always been very important technique to be conisdered while trading. It helps to keep your investment safe from facing any dangers
Členom od Jun 24, 2020
34 príspevkov
Sep 10, 2020 at 07:10
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 :)
Yeah totally. It helps you stay disciplined and rational.
Členom od Apr 25, 2020
119 príspevkov
Sep 16, 2020 at 10:54
It really helps, but everything needs to be learned and given time so that in practice it can be applied.
Členom od Jul 19, 2020
318 príspevkov
Sep 16, 2020 at 14:24
If you can set your money management perfectly it is obvious to make money from this market. Most of the traders lose their money because of their wrong money management policy.
