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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. #31
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    Quote Originally Posted by sharegistFX View Post
    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.
    Traders that want to learn more about money management will need to see things carefully on all conditions. Many traders do not possess any knowledge about the right possible implementation in here and we can see the fact that they are still losing too nowadays. If we possess a good trading setup then naturally nothing might be hard and risky too in here.

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    If a newbie is wise enough, he should realize that money management is the way to make good trade. If we don't plan on how to manage our funds, there is no way you can succeed and earn well in your trade. It's great for us to manage our capital and newbies must be ready to plan on how they can make a good trade in forex. We should learn to minimize loss and know how we can manage our capital so we can be able to trade good and make good income always from this business.

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    [lang=id]
    Quote Originally Posted by Senorita View Post
    If a newbie is wise enough, he should realize that money management is the way to make good trade. If we don't plan on how to manage our funds, there is no way you can succeed and earn well in your trade. It's great for us to manage our capital and newbies must be ready to plan on how they can make a good trade in forex. We should learn to minimize loss and know how we can manage our capital so we can be able to trade good and make good income always from this business.
    Not all newbies in here will be like that and i believe most newbies in here do not understand a good way to manage their own money as well. Traders that do not possess enough plan to manage their own money and plan will hardly success in here as the result too. We need to see good chance to earn and we need to keep staying away from risks in trading too.[/lang]

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  5. #34
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    Quote Originally Posted by Vicko View Post
    [lang=id]
    Not all newbies in here will be like that and i believe most newbies in here do not understand a good way to manage their own money as well. Traders that do not possess enough plan to manage their own money and plan will hardly success in here as the result too. We need to see good chance to earn and we need to keep staying away from risks in trading too.[/lang]
    it is a normal thingfor newbies will ignore the rules to managethe risk because they have not yet understood for how much danger to tradebwith ignore it. and then why many newbies got some loses and repeat them again and again before get the awareness to trade properly. this is a process for them to understand something for bettee trading and some of them will know the answer for this

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    Quote Originally Posted by newcomer View Post
    it is a normal thingfor newbies will ignore the rules to managethe risk because they have not yet understood for how much danger to tradebwith ignore it. and then why many newbies got some loses and repeat them again and again before get the awareness to trade properly. this is a process for them to understand something for bettee trading and some of them will know the answer for this
    It is a common thing for the newbie truly, but we still need to advice and encourage them on how good trading could be achieved. There are more in the market that might want to affect what the trader is doing, but with better practices, they will be better in the handling of the market, and they will have much more results to be happy about.

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  7. #36
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    Money management is very very important for traders because if trader will working on the money management so then he can not loss money easily. and even traders can working on the low risk.. because money management rules are very best and attractive for traders. first this is important and first step for traders to understand this...

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  8. #37
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    Quote Originally Posted by cozard007 View Post
    It is a common thing for the newbie truly, but we still need to advice and encourage them on how good trading could be achieved. There are more in the market that might want to affect what the trader is doing, but with better practices, they will be better in the handling of the market, and they will have much more results to be happy about.
    Many new traders might not trully know what they need to do as a trader too i think. If they have the knowledge then they should see what others will advice them first and then make their own call or decision to trade. Many traders lacks the knowledge and sometimes there are things that just won't do well even with practice and we need to know about that too.

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  9. #38
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    Quote Originally Posted by sekiryutei View Post
    Many new traders might not trully know what they need to do as a trader too i think. If they have the knowledge then they should see what others will advice them first and then make their own call or decision to trade. Many traders lacks the knowledge and sometimes there are things that just won't do well even with practice and we need to know about that too.
    Well, the new traders do have so many things they don't know about the business they have so many things to learn and understand about the business, so therefore learning is what they need to become successful and most of them are still even confused on what they want from the market so they have a lot of things to sort out.

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    Quote Originally Posted by cutiekc View Post
    Well, the new traders do have so many things they don't know about the business they have so many things to learn and understand about the business, so therefore learning is what they need to become successful and most of them are still even confused on what they want from the market so they have a lot of things to sort out.
    I think that many traders do not have a strong control in trading and we also need to learn faster too in order to get a better or even a perfect control over what we will be trading. Many traders want to trade but lacking in knowledge so it is hard for them to success in this field. This is where things got even more difficult i believe.

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  11. #40
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    for newbies. they only need to use cents account type with smaller lots size for trading because the main ideas here they only need to get the experiences and skill for trading and not for making money directly. and so they know how good the setting for their trading based on the skill or also how to develop it later. for me, for the first time i ooen micro account and make $10 as investment with use smallest lots size as my practicing progress because i did not use demo account

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