Both money management and trading psychology

Both money management and trading psychology are key to success in forex trading. A person will fail with a good strategy if he/she ignores the importance of money management and trading psychology. It has been said that trading is 90% psychological. And it's true.

Trading is a mind game. So, it is better to trade with clear mind.

I agree with you. Money management is quite necessary for every trader and they should focus on it. Managing risk is also important.

I completely agree with you, because when we are able to manage our capital, we are able to manage our risks.

I agree with the idea that all problems are in the head. If you can't handle something, it means you're not really committed to it - that's a 100% fact.

The main thing is to take your time.
And check out the strategies that bring you money, and the approaches that give you confidence.

Risk management too.

momo3HC posted:
Risk management too.

Was looking for this one. Yes, Risk management is very important to minimize the losses and increasin the risk reward output

Yes, of course, money management and trading psychology is a very important issue in forex trading. It is impossible to stay in trading without applying that formula. I know it will help me a lot to be successful.