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Thread: Money management for newbie

  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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    Money management is the key to any trader, am going to give a good example, in the year 2013 , I had traded for over 3 years, and I had a 1000$ in my account, so I made a trade with gbpnzd, it went to m y profit zone just momentarily then back, it kept on going down, and I had a negative swap, and so each day I was guaranteed losing 7$ and after a few days, I was margin called, these was not because I did not know the right trade, no, it was simply because I had taken a very large or a huge trading lot. the trade would have ended in positive, it was only because I had a very high lot.

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    If we enter in the real market without knowledge on the money management and never know how to handle the trade from going into the wrong directions so making the profits is not easy if we not good in the major factors that are particular sources for earning and money management is one of them that help in long term survival and good learning helps us a lot .

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    One thing is being able to develop an effective trading system which is capable of making you some good amount of money but another thing is being able to take full control of the profits that you have been able to earn over time, and one of the best ways to achieving this is through deploying a great deal of good money management and developing huge discipline to sticking with it all the times. Money management is the key factor that have made most of the newbies and even older forex traders to keep on losing their hard earned money in the field of forex trading business.

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    Money management is the most important thing in forex trading because leverage is used and losses can increase very quickly if the money management rules will be disregarded. Many new traders lose money due to high leverage and cutting losses too late when Margin call or Stop Out is near. Losses should be cut off before they reach 5 percent of account.

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    The money management is not for only the newbie,but what other traders should really get to learn and know how to make use of, it will be important that we all learn and know the use of risk management too, furthermore, the reason why we see the successful traders who makes consistent money is not because they have got some kind of secret powers, but because they understand this rule of money and risk management.

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    Quote Originally Posted by Rola View Post
    I agree with you. Money and risk management is very serious thing and nobody will survive in market if they will not respect the money management rules. Experienced traders use very low leverage as they know the importance of money and risk management. New traders look at money management rules like to a terrible tale for children and market punishes them.
    For newbie money management are very important thing without it anyone does't enter the market with low risk and could not develop successful strategy for trading. Which trader are good planning about to manage strategies risk and reward well he can easily control stop loss and take profit from market and became successful trader on this business.

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  8. #4617
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    Quote Originally Posted by audic5 View Post
    For newbie money management are very important thing without it anyone does't enter the market with low risk and could not develop successful strategy for trading. Which trader are good planning about to manage strategies risk and reward well he can easily control stop loss and take profit from market and became successful trader on this business.
    It is the main part of our trade strategy if we are applied a good money and risk management in trade so in this way we develop our trade ideas better and success chances will also increase in trade , we must focused well on the use of risk and reward ratio for performing our trade successfully and for attain good results in market .

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  9. #4618
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    If you would be trading with your capital anyhow with the form of any protection then there is no need for you to trade, because you cannot survive in this market if you don't protect your capital from unnecessary losses, money management is what we need to protect our capital from big loss as newbies or experience traders cause no one can survive without money management.

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  10. #4619
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    Money management is one of the key factor that actually works to give protections to our money so if want to avoid any losses or unexpected results and not want to lose the money then in such conditions we need to manage the money perfectly and with time we will able to form success accurately and we will obtain progressive results so we need to manage the money very rightly.

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  11. #4620
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    Quote Originally Posted by cutiekc View Post
    The money management is not for only the newbie,but what other traders should really get to learn and know how to make use of, it will be important that we all learn and know the use of risk management too, furthermore, the reason why we see the successful traders who makes consistent money is not because they have got some kind of secret powers, but because they understand this rule of money and risk management.
    Yes some beginners might be good at following money management and some experienced traders might be still reckless with it. So what all should focus on is to trade with optimal risks. Always optimal risk is clear our fear and can make us very serious for trading. Always remember without a trader having discipline there will be failure of all strategies and risk management

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