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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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    It is a fallacy in believing that when it comes to money management, only the newbies are affected, we need to have a consciousness to manage our trading account and risks because this will create the sense of self satisfaction that we need from trading, risks are never good if we don't exercise some restraint over them, ultimately they can cause some damage to what we have already gathered.

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    Quote Originally Posted by biru View Post
    Patience is keys to everyday success on this business with higher profit. First of all trader have need to manage strategy risk or reward well the power of our trading skills and knowledge and he can make big amount of investment trading account then he can make everyday long term strategy for trading and make everyday good profit in it.
    waiting for too long just to confirm market patterns is no longer considered as patience but doubtful when making decisions. money management should tell us what to do and when to do that precisely. along with the help with our good strategies, we can make a safe earning even though we are still newbie here. however for safer solution it is better to stick with demo account and practice there to reveal everything we need to know about this business.

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  4. #4903
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    Money management is for all traders and not just for newbies alone,although for newbies because they lack the necessary experience it is important that they practice very good and effective money management for them to be able to last very long in this market,trading can be very simple if we truly understands how things work.

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    Newbie should do what it will take to manage their investment because their investment is what gives them the chance to make more of profits at the best time. Newbie who would learn will have the chance to become successful and they can have the possible ability to deal with loss. Newbie have to take learning seriously and they must have a better risk money management plan to trade well if they want to become a successful and profitable trader.

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    Quote Originally Posted by Ulthred View Post
    Newbie should do what it will take to manage their investment because their investment is what gives them the chance to make more of profits at the best time. Newbie who would learn will have the chance to become successful and they can have the possible ability to deal with loss. Newbie have to take learning seriously and they must have a better risk money management plan to trade well if they want to become a successful and profitable trader.
    it won't take long for newbies to lose their first deposit because it's too obvious to tell how bad their trading will be. it's quite a challenge for newbie to trade with real account and to avoid repeating more losses, it's better for them to continue their learning to get more knowledge and practice more setups to understand their strategy better. newbie doesn't need to rush the market because profits awaits those who have everything in experience and knowledge.

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    Money management is important. There is nothing we will be able to achieve in the business if we don't make use of the money management. You could make money, but then next other trades could wipe out your trading account, so therefore, when you want to have good use of your trading strategy ensure to apply good realistic money and risk management.

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    Quote Originally Posted by Makaveli View Post
    Money management is important. There is nothing we will be able to achieve in the business if we don't make use of the money management. You could make money, but then next other trades could wipe out your trading account, so therefore, when you want to have good use of your trading strategy ensure to apply good realistic money and risk management.
    the worse part of not using money management is we do not know how to handle our wrong trades and would probably hold that trades until we they lose everything. it is like traders who do not have a money management, they are trading without using stop loss and can not maximize their performance in profits. whenever they got the chance to make 100 pips profit, due to lack of money management, they only limit their earning only to get 40 pips.

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  9. #4908
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    well thread of the trading , money management is the important thing to earn money from forex. when we invest some money in the trading it gives a lot of chance to earn more money from the trading . the newbie traders invest small money firstly they earn some money by working properly . risky management reward huge money in the trading but they are mostly use by the big trader.

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  10. #4909
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    Money management is highly effective factor that should be studied before open the trade in the real market so be aware about the market volatile nature which could be changes at any time frame and a trader if aware about these facts and good to have experience then they can make the higher earning rewards with giving security to the money .

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  11. #4910
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    Every new and professional trader must have need to be aware that without following the rule of money management we cannot become successful in forex market to make consistent profit and survive in this market for long term.. so it will be best for everyone that follow this rule because it is the backbone of our trading career.

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