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  1. #1
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    Money management for newbie

    Money management is the main lesson for beginner trader. There are lots of strategy in the Forex market. Strategy is not fact for the market. If you have not proper money management then you would be must a loser trader. Every trader comes for profit but average 5% trader can gain and 95% percent trader loser. You can use any one strategy for trade and profit sure but if you have not proper money management then you could loss . So, my suggestion for newbie trader that take minimum 10k (10000 pips) pips risk as per your deposit. Because of market not move 10000 pips in short time. you can only buy or only sell for any currency pair .Take profit 100 / 200 / 300 pips. I prefer you MACD indicator for Forex trading.

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  2. #21
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    money management is crucial to every trader not even only to a beginner. success in trading all depends on how you can manage your money. most traders wants to get rich quickly thereby with higher lots and risking their money but forget to look at the downside if the market moves against them , then they are definitely going to loose a lots of money

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    newbies mostly trade on huge risk like i have done in last some days, i invested money and trade on very big lot size and lost all capital that was because of some pressure and hurry by the way, this is important for newbies and old as well, without a good money management we can't take a right decision here about lot size and risk of order, so make it perfect

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  4. #23
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    Quote Originally Posted by naeem555 View Post
    newbies mostly trade on huge risk like i have done in last some days, i invested money and trade on very big lot size and lost all capital that was because of some pressure and hurry by the way, this is important for newbies and old as well, without a good money management we can't take a right decision here about lot size and risk of order, so make it perfect
    I think that most newbies does not possess a good knowledge and so they do not really understand the risk they are taking. As the result, they took such a notable risk in their trade and lost quite the money too. Newbies in this business need to learn faster and deeper about the risk in each trade they will gonna do first. As long they do that, it will be easier for them to avoid risk and trade with a good control.

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  5. #24
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    Quote Originally Posted by Yul View Post
    I think that most newbies does not possess a good knowledge and so they do not really understand the risk they are taking. As the result, they took such a notable risk in their trade and lost quite the money too. Newbies in this business need to learn faster and deeper about the risk in each trade they will gonna do first. As long they do that, it will be easier for them to avoid risk and trade with a good control.
    I agree that most newbies does not possess the knowledge but there is not the real problem actually. The most disturbing thing in here is just they are not doing enough effort even after they have known that they does not possess the knowledge at all. This what makes them harder to success in the future as the result and we should not become someone like this.

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  6. #25
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    newbies always found the forex environment frustrating due to the loss they are prone because of lack of full understanding that is needed to trade successfully in forex. instead of being patience and learn what is needed, they forge ahead thinking they could think it out to profit but rather get prone to loss. this makes it harder for them to succeed. Know what is necessary before jumping into real trading

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  7. #26
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    Most of trader's have greed in their trading, some time luck give them money and they start to believe that they can achieve everything with luc here, they don't have a proper money management and risk management in account and they don't know how to handle things in their trading. Most of trader's have a wrong apporach of trading in forex and most of them are newbies in forex. Most of trader's start to learn well when they lose huge amount of money in forex, because at first everything seem's joke to them.

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  8. #27
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    some traders did not realize when they stay under the emotion and greed come up easily and especially for them who as newbies with a little experiences. they just thought that made big moneh was done with well and will repeat it again without good risk managements or disobey th rules. but after met some loses or big ones they will understand for what have been done by them and started thinking to fix the problem with started trading with good managements

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  9. #28
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    Generally money management is something traders have to give more time to and learn, it is important, when we learn how to make use of money and risk management and then take trades that are more promising, I do believe that we will have more successful better trading experience. But then it takes a whole lot of discipline to be able to make use of money management when trading.

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  10. #29
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    Quote Originally Posted by cutiekc View Post
    Generally money management is something traders have to give more time to and learn, it is important, when we learn how to make use of money and risk management and then take trades that are more promising, I do believe that we will have more successful better trading experience. But then it takes a whole lot of discipline to be able to make use of money management when trading.
    All trader will be needing the management, that is what they achieve with. Trading in this market is about up and down, it is all about the winning and losing too, that is what will help traders to maintain their right in their success. Traders can never be winning alone, they will losing at times, and they will need to maintain their success.

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  11. #30
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    Quote Originally Posted by cutiekc View Post
    Generally money management is something traders have to give more time to and learn, it is important, when we learn how to make use of money and risk management and then take trades that are more promising, I do believe that we will have more successful better trading experience. But then it takes a whole lot of discipline to be able to make use of money management when trading.
    I think amongst all about forex trading money management seems to be the most simplest things to learn but hard to implement, due tot he implementation will take some time and requires more learning and dedicated time to the being disciplined. You know one could see that so nice trading setup and will want to take it with higher risk so as to make more money.

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