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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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    Registered user cutiekc's Avatar
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    Money management is good but certainly not the most needed things which traders has to have before they can make money from the market. Because when we have the good money management then it is needed that we have to be disciplined so as we can have it applied the right way and be able to make money from the market. Money management is important but we need good skills.

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    Registered user Hukam's Avatar
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    According to me mate money management and risk management are crucial part of our trading and it does not matter who are doing trading in forex it could be an old trader or can be a novice trader in forex, for everyone it become so much important to take care of their management, to reduce our risk, our losses, it would be highly important to work with proper risk management and money management in live forex.

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  4. #13
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    Newbie should be ready to trade with good money management as this is what will truly help them maintain their funds to trade this business. Every good plans comes with good money management and if we must make it, we will really succeed. A good way of managing loss is proper money management and so of course we should learn to follow the right process to earn well in a great and profitable way.

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  5. #14
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    Quote Originally Posted by Ifycoguy View Post
    Newbie should be ready to trade with good money management as this is what will truly help them maintain their funds to trade this business. Every good plans comes with good money management and if we must make it, we will really succeed. A good way of managing loss is proper money management and so of course we should learn to follow the right process to earn well in a great and profitable way.
    It will be good if newbies can learn a good money management so they can keep earning and improve in here too. As long they know a good way to maintain their own funds in here, success will be possible but we need to manage our own money to trade first. Best way to manage our own loss will be managing every possible risk in each trade we did.

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    The thing with newbies is that they lack what it will take for them to keep to money and risk management when trading, I mean they lack the discipline and that is the more reason why most of them are losing their money. I see forex trading as a business that has to do with more of self discipline, that way one have got to make sure that he have got the self control and maintain that money management.

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  7. #16
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    yes this is important step for newbies, money management is best thing for them to avoiding big loss and big risk actually, we all should accept loss because just this is way where we can manage money, in wait of profit we can lose all in one order, so close it if you are not confirm about market and wait for confirmation and again place order

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  8. #17
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    Without a good trading system it will not be helpful to take losses in account because those can be harmful for our trading account and can burn all of our money in a few bad trades. Losses are only acceptable if they are coming under a use of proper trading system. A lack of knowledge means failure in trading so its important to check that what kind of system we have for trading before venturing in real account.

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  9. #18
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    Quote Originally Posted by forexlearner View Post
    Without a good trading system it will not be helpful to take losses in account because those can be harmful for our trading account and can burn all of our money in a few bad trades. Losses are only acceptable if they are coming under a use of proper trading system. A lack of knowledge means failure in trading so its important to check that what kind of system we have for trading before venturing in real account.
    A good trading system will supported by good managements and they will work well if traders have strong commitments with discipline also patience.so traders understand to make right decisions as the vital thing that will give them some earning and repeat.
    It is so good to take learning and practicing first before jump to the market as the way to trade with lack of knowledge that will invite more problems

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  10. #19
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    Money management is best strategy for Forex market. Forex market is not same to others buy sell market. It is as like as a share market. This market's price movement depend on currency. Currency movement depend on economical event. Also, depend on geographical tension and political tension.I prefer, all of traders need manage their proper money management. thanks all traders.

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  11. #20
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    If it was the newbie issue, the margin call are not a news to them, they always have margin call, so, it is better for them to face the market actively than even the experience traders, they have to reduce the risk they are trading with, and use nothing more than 2% of their trading account before they are fit to increase their trading risk.

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