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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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    If you have learned everything about forex, have practiced your trades well and have a perfect working strategy and poor in money management then you can never be successful in forex. Money management has 70% role in having success in forex. Traders who do not follow money management they always burn their accounts.

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    Quote Originally Posted by pajero View Post
    Risk is an inseparable part of every business. There is no business that is risk free. Remember this. Thus, knowledge about risk management and good capital management is absolutely necessary. Risk management is about minimizing risk with the aim of maximizing profit opportunities. By implementing good risk management, you will have complete control of your money. Assisted with good capital management, risk management will help you to "tame" wild markets.
    Risk is everywhere when it comes to the trading of this market, we have to plan on how the risk will not affect what we are doing. To do that, it is right for traders to work with the proper money management, and not only that, the trading with the risk management has to accompany it, that is what i know that will make the trading account of traders not to be lost easily.

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    Money Management is very closely related to the system used by traders themselves. so for someone of course Money Management can be different from other people just because the system is different. even so, the end of all Money Management is the same, namely to keep all of our accounts safe. even though there are a number of good opportunities, but if you fail to implement Money Management you will eventually become a failed trader too. on the contrary if there is an ordinary trader but is highly disciplined for sure the results will be good.

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    Money management is very important to reach up to a professional level in forex online trading because without money management,survival is not possible. I think we need to have planning and proper management in order to survive and earn from this field in consistent manner because forex trading is risky business and here in this field we can get our aims only by hard work and struggle. Newbies should start with small investment and they can make better profits after gaining proper trading experience. Patience is very important to reach up to a professional level in forex.

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  6. #4825
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    Money management is most important thing of this business and without use good and effective money management no one can survive on this business. Forex earning is never be easy until traders are focus on money management because without take suitable risk and reward ratio you cannot survive on this business for long time.

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  7. #4826
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    Quote Originally Posted by amjad23510 View Post
    Money management is very important to reach up to a professional level in forex online trading because without money management,survival is not possible. I think we need to have planning and proper management in order to survive and earn from this field in consistent manner because forex trading is risky business and here in this field we can get our aims only by hard work and struggle. Newbies should start with small investment and they can make better profits after gaining proper trading experience. Patience is very important to reach up to a professional level in forex.
    Yes, it is very important for beginner then he can always first make successful trading plans with the power of money management and our knowledge to make everyday good money in it. If he can small investment into our trading account then make short term strategy for trading and if he can investment big amount of money then make long term strategy for trading.

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    The essence of money and risk management is to enable traders control their emotions when they are trading in the market, you know when a trader has invested so much money, more than what they can afford losing, then you see the trader getting all sort of emotions and then they could be taking decision based on those emotions such as greed and fear.

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  9. #4828
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    The only way a newbie can look towards making the best trade here is to have a system that will help him deal with risk. Money management for me is very important and should come first before we think about making profits. Newbie should take learning seriously and they must do well to manage their capital in ways that matters. Newbies should know that the very value of good trading will help them make up profits always. Beginners must take their learning seriously and always know how they can build a strong system that will eventually help them manage their risk.

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  10. #4829
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    With money management, we can be guaranteed that success won't be an issue for us, unfortunately this is the opposite of what really happens many times, we don't have regards for money management but we still believe that Forex will be a profitable adventure, that is what is responsible for why we do not earn money from this market, without money management a Forex trader is doomed for failure.

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  11. #4830
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    Quote Originally Posted by Leonvic View Post
    With money management, we can be guaranteed that success won't be an issue for us, unfortunately this is the opposite of what really happens many times, we don't have regards for money management but we still believe that Forex will be a profitable adventure, that is what is responsible for why we do not earn money from this market, without money management a Forex trader is doomed for failure.
    Yes, it is a human nature that does not let new traders to recognise that they have done a mistake and to accept losses. So traders disregard money management rules and let the losses to grow and if there is a trend so losses will grow everyday. Money management means that traders have limit for losses and they must cut the losses if they are over limits.

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