Money Management

Money Management is one of the most important pillar here! Greedy Forex traders lose their full trading balance end of the day, since they don’t respect money management as well as risk management policies! On the other hand, professional Forex traders are able to recover their trading mistakes so smarty, because of using MM trading rules in their trading!

great thread sir. i think this is true. because of poor money managment traders are loosing. but what is the perfect % of money managment for you?

Really 1% is such a secure risk reward ratio, that means you need consistent SL to crush your full balance, by the way; usually I use 2% risk ratio in my single trade.

Very true. People need to get into in understand the money management which will make your trading so much safer and deal with less risk of loss.

I traded 2-3 years full-time, and I have more than 10 years (part-time/hobby) trading experience.

I agree on money mgmt, but would like to point out also, that when running one-man trading business, it's very
difficult to perform daily year-in year-out. Usually since I have no boss in my trading, I abandon my trading plan
from time to time, since there is no outside pressure.

Somekind of peer-to-peer working with another trader would propably help. Both would review and supervise
each other's trading-plans and that they are enforced, as well as money mgmt. anyone has experience on this?

Trading is not my preferred source of income anymore, I have other business plans now.
I realized any business could benefit from peer-review. So I give you a challenge, work with me on
peer-reviewing my business and I'll work for you on your trading.

I posted here since I thought there are enough money hungry people here to be interested :)


ps. message me here privately if interested.

reggae posted:
Very true. People need to get into in understand the money management which will make your trading so much safer and deal with less risk of loss.

You are right. When we have a strategy for managing risk, trading becomes so much better.

richard2 posted:

reggae posted:
Very true. People need to get into in understand the money management which will make your trading so much safer and deal with less risk of loss.

You are right. When we have a strategy for managing risk, trading becomes so much better.

Bingo

I agree with you! Money Management is really very important in trading. If you don't do it, you'll fail very quickly. You won't know where your money goes or why your profits are going down. You'll blame your broker, the rest of the traders, but not your own approach to money management.

Thorgaswyn posted:
If you don't do it, you'll fail very quickly. You won't know where your money goes or why your profits are going down. You'll blame your broker, the rest of the traders, but not your own approach to money management.

I agree with you! Money Management is really very important in trading.