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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. #5471
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    Quote Originally Posted by Krosneles View Post
    Money management is very important for traders because it is easy to lose the money but it is hard to earn them. Money management rules tell not to lose more than 5 percent per order because it will be difficult to recover from losses. The rules are very important for all trader experienced and new ones but beginners should respect them if they want to survive in market.
    You are very true, its hard to recover the money you lose and so you should take all the necessary steps to ensure the safety of your money. Risk management is must and some newbies think that after learning a good strategy they can take high risks and earn big. Newbies should not think this way rather they should look Forex as some genuine business where they need some genuine work and strong plan.

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  3. #5472
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    There is no doubt that a lot of beginners do lacks a good money management system in this business which really makes them to loose their entire funds in the market. This is a business of which nobody needs to lacks good money management quality in it. Any beginner that cannot work with a good money management system is not ready for forex trading business.

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  4. #5473
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    Money management is for all classes of traders and not just a beginner trader alone though the note of warning must be sounded in the hears of beginner traders so that they will know the danger of trading without proper risk management. A good trading strategy without proper risk and money management will not produce any positive results

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  5. #5474
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    money management is the first and most rule in our trading success because it plays more than 30% success rule in our trading career so we must have need to be aware that without following the rule of money management we cannot become a successful trader and mostly new traders.

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  6. #5475
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    Money management is very important to all traders both newbies and old traders,the only way we can protect our capital in this market is to have a very solid money management plan if not we will just continue to lose our capitals to the market,the more we learn the better we become as traders in this market.

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  7. #5476
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    What can give us strong success to earn is proper management of our trade, so it's good we know how to build a profitable method of trade that will indeed increase our chances here. Newbie should stick with learning and make use of the demo account to build a better trade for themselves right here. Beginners here must be ready to trade with the right management and see how they can improve to make a promising profits.

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  8. #5477
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    if a trader will aware about the importance of money management in the start of his trading career then maybe he will not face any type of laws and become successful in his first try but, it's not possible because when a new trader comes in market he is not aware that what is bitter truth behind this business

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  9. #5478
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    Money management is a matter of must, there is no special category of Forex traders that this is meant to be used for, whether you just join the business or you have been here for a very long time, you must understand the process of applying for the money management principles otherwise you will have plenty of issues to settle in your trading.

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  10. #5479
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    The newbie traders are bad with the use of money and risk management. They need to take the fact that they can't make money on every trades that they have taken, therefore having that perception about forex trading should help the trader be able to understand why they should protect their trading account at all times.

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  11. #5480
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    Money management is the simple role and every trader should be good in this aspect because for us this is soo important to rightly manage the money which is an important way for giving full security to the trading account and on the basis of good skills of management a trader will gain the maximum powers of winning success safely .

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