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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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  2. #5541
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    Here is the need to pay the serious focus on the management skills that are helpful to us for increasing the chances of success with give the proper protection to the money also so this is the better way to get the secured winning powers with having the wise decisions and give the extra potential of working rightly will help to get the better change in the whole processing .

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  3. #5542
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    Money and risk management isn't only for the new traders because the trader needs to have the discipline of money and risk management. In as much as you have learned how to make use of risk management, your strategy will be effective. Most times, most traders often takes losses that they shouldn't have due to lack of money and risk management.

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  4. #5543
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    It is a way to be successful in this market because if we are doing our work with full attention and with complete knowledge we do make profitable trade and we have good strategies to be work , we must have to make our plan very well and our learning will help to make our plan very well money and risk management will give trader opportunity to trade successful .

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  5. #5544
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    To get the survival in the real market that need to be perfect in the management skills and to choose the better working systems wisely and having the right trading experience will effects very nicely on us so we have to be good in management skills and to be good to hold on the risks that important much in this regard and earn through it better .

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  6. #5545
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    I have always said to my self that the trading strategy will not be that productive if the trader don't know how to make use of good money and risk management in the way they trade. Newbie first of all ain't gonna be needing to invest any money into the market, unless they are sure that they have completed the learning process and then on the other hand, investment shouldn't be all about investing all your savings, that will be wrong.

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  7. #5546
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    There is very important need to make sure that whenever you are coming into the forex market then you should develop good money management because that is the backbone of lasting longer in this market and allowing you to start earning good amount of money over time. There is no one that have ever lasted in this trading business without first making sure that they are coming out here with great deal of money management because it ensures that we shall become profitable at the longer run.

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  8. #5547
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    Quote Originally Posted by Penuelophir View Post
    There is very important need to make sure that whenever you are coming into the forex market then you should develop good money management because that is the backbone of lasting longer in this market and allowing you to start earning good amount of money over time. There is no one that have ever lasted in this trading business without first making sure that they are coming out here with great deal of money management because it ensures that we shall become profitable at the longer run.
    I agree with you. Nobody survives in forex market if there is bad risk and money management because it is easy to lose money and hard to earn. Usually traders take little profits but when there is loss so they do not want to accept it and they let for the loss to increase and destroy the account. Traders should be able to accept losses.

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  9. #5548
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    I think newbies should learn trade fully because if a newbie have enough experience on demo he can understand market on real also. So your demo account can tell you what is next step more learning is required or not or where you need to be changed. So use demo and check initial and current balance, time, pips and profit.

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  10. #5549
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    Money management is very much important for newbies because when we are newbies we are more prone to ignore this thing in our trading. Newbies should note that this business is a business of patience, but many newbies rush to earn and they trade aggressively with high risks. We first should not trade live, but trade demo and here we have to learn many things about trading in Forex.

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  11. #5550
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    The need for money management go beyond newbies alone as a matter of fact it goes across every traders in Fx.If we are here to make money as a trader therefore the first priority should be how to manage money so that in a bit of making more money we won't loose our account. So using appropriate lot size before placing any order should first be put into consideration and this is base on the account size.

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