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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. #5571
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    Everyone trader must follow the basic rules of market and money management is one of the important property that good for taking the benefits with approving success and make our survival possible for a prolonged time period so we must be good to manage the money and hold on the risks that give us chances for earning success .

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  3. #5572
    Trader Azis Muslim's Avatar
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    Quote Originally Posted by putih View Post
    The new traders should always invest the amount of money that they can afford losing. The new traders always wants to earn money so fast from the business. That is the mindset that they have to kill first so that they can have decent trading and then investing what they can afford losing as that is one of the golden rules to being a good profitable trader.
    Understanding that rules can not be simply done only through written plans inside our strategy, we still need some actual efforts which is using money and risk management. Traders are vulnerable to lose more trades with market when they failed to manage their trading and use unreasonable risk. As the result, loss is unavoidable and it is leading us to make more losses until we got nothing left inside our account.

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  4. #5573
    Trader Toyen's Avatar
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    Quote Originally Posted by putih View Post
    The new traders should always invest the amount of money that they can afford losing. The new traders always wants to earn money so fast from the business. That is the mindset that they have to kill first so that they can have decent trading and then investing what they can afford losing as that is one of the golden rules to being a good profitable trader.
    That is a good idea, not only for the new traders, the new and the traders that knows how to trade should never dare to invest the money they can not afford to lose. When traders try such, that will be the beginning of the failure of that trader. To trade the market closely is by making sure that we are not emotional, that will help us to avoid emotion.

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  5. #5574
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    Money management is the key of success in this market which help us to reduce our risk in trading and do trade like a professional trader.
    There are a lot of traders who become failed because they are not aware about the importance of money management and doing trade without following this rule become a professional trader always trying to do trade with proper money management.

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  6. #5575
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    There are many people that don't believe in the trading of forex with money management and that is why we often see that losses are on the higher side in the forex market. The newbie that wants to become profitable should understand that money management is the ticket that is required to move to that dream of success he has.

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  7. #5576
    Trader amjad23510's Avatar
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    Quote Originally Posted by simisola View Post
    There are many people that don't believe in the trading of forex with money management and that is why we often see that losses are on the higher side in the forex market. The newbie that wants to become profitable should understand that money management is the ticket that is required to move to that dream of success he has.
    I agree with you at that point. There are numerous traders that want profit in each and every trade and mostly new traders have such sort of thinking but actually we should know that success is not possible without money management and even such traders have to come for money management after facing some loss. I believe that forex trading is all about money management and we should not try to earn big by investing small. just try to grow slowly and have main focus on gaining better trading experience with live market.

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  8. #5577
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    Money management make it possible for a trader to succeed, because money management is part of success, if we don't use money management in our trading we can never succeed because money management is one of this basics aspects that make it very simple and easy for us to trade in the market for a long time, so it's very necessary.

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  9. #5578
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    Quote Originally Posted by amjad23510 View Post
    I agree with you at that point. There are numerous traders that want profit in each and every trade and mostly new traders have such sort of thinking but actually we should know that success is not possible without money management and even such traders have to come for money management after facing some loss. I believe that forex trading is all about money management and we should not try to earn big by investing small. just try to grow slowly and have main focus on gaining better trading experience with live market.
    I agree with you. Really new traders want to win everywhere and all orders to become profitable. They simply do not know or can not accept little losses and they let losses to increase. There is a rule if market does not go up so it goes down. It is the reason why traders should cut losses quickly and respect risk and money management rules.

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  10. #5579
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    Money management is the basic rule in forex. If trader uses too large lots and the market goes against him so the account can be blown up. On the other hand the stop loss should be placed not to loose more than 5 percent in one trade as to cover losses the profits should be 10 percent. This money management rule is used by all traders.

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  11. #5580
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    The newbie in the market should be able to understand the market and know that success comes from the good use of right trading experience. A successful trader needs to trade with the use of good money and risk management. Because there is uncertainty and our trading strategy can not be perfect. Therefore we meed to use a good protective measures when trading.

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