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Money Management

Evelyn55
May 08 2020 at 08:04
52个发言
brotendo posted:
MM is the most important skill to trade Forex. Or even life. if you don't possess one - you are in trouble. best strategy can fall down if you don't know to get use of your funds. so i would recomend before going all in on your live account - good MM and learn it. then practice. and then you will succeed


Well said. Many new traders don't understand the importance of MM and end up blowing their accounts. But Mm is really important and traders must make a necessary plan of action to avoid risk and manage money.

shirtgeek
May 08 2020 at 10:36
9个发言
MM is important for keeping you in the game but no amount of MM will get you winning the game. For that you need to know HOW to trade and WHEN to trade. MM is just part of the picture

andrew_2
May 08 2020 at 10:40
37个发言
Patrick1981 posted:
I don't believe that. If you have a great strategy that makes profit then it doesn't really matter what money management you use


Well well any trading strategy implies the presence of money management. Otherwise this is not a strategy.
How will you trade without risk? How will you calculate which% are you ready to lose if something happens?
In my opinion you said stupidity.
Or you have not been traded yet, so you do not understand what you are talking about. 🙄

Brick_56
May 11 2020 at 07:22
36个发言
shirtgeek posted:
MM is important for keeping you in the game but no amount of MM will get you winning the game. For that you need to know HOW to trade and WHEN to trade. MM is just part of the picture

All are equally important things as per me. Even if a person knows how and when to trade, his profits won't stay up with him if he doesn't manage his money well. So yes I think all three have equal weightage.

nikosk0
May 11 2020 at 09:04
29个发言
psycology is more important than money management.

i do win and i win big. i dont accept mediocre winnings. but i want to win more since i know it can be done.

i am trying something new on demo. i will try it for a few months and see if it can outperform my live account. now it is the 2nd week of testing and the demo is +30% of my live.

the difficult part on demo is the psycology cause the risk is big (10% per trade trading). 2-3 trades per week, perfect setups only, nothing less than that
if it works out i will put a small ammount of money like 5k and test it live.

for now i can not do it live, i do know it can work cause i am practically taking the same trades but i will not be able to handle the pressure if i start with 1-2 loosers

everything is possible, put the effort and do it, dont let anyone discourage you
Imamul
May 11 2020 at 10:31
561个发言
its a very good reply with more information. thanks for your nice post.

Adribaasmet
May 12 2020 at 15:52
914个发言
, I have a fixed risk reward ratio in my trading! Right now I am trading with 2% risk reward ratio, yes I am comfortable with low risk reward ratio because it secures more my trading capital

jordonjamesson
May 13 2020 at 16:19
22个发言
Adribaasmet posted:
, I have a fixed risk reward ratio in my trading! Right now I am trading with 2% risk reward ratio, yes I am comfortable with low risk reward ratio because it secures more my trading capital


I like this idea, especially if your capital is big enough so 2% is more than enough for you.

sudenbi (sudenbi)
May 19 2020 at 09:32
1个发言
Money Management is a crucial element of trading the financial markets especially in times of volatility. I never risk over 2% per trade. I write down a post about money management in https://tfltrader.com/quan-ly-von-trong-forex/ but it is Vietnamese. If you want to read it, please google translate in to English.

Akos53435627 (Akos53435627)
May 22 2020 at 11:33
10个发言
I use my money management constantly. I always check my trading strategies on demo accounts. it may not be the other way around. and I advise you

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