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    Thread: Extreme Money Management

    1. #31
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      Quote Originally Posted by Neriah View Post
      When we say some things on paper, it sounds so beautiful that we want to immediately start making withdrawal even without trading, I can assure you that trading and increase of $20 into a bigger amount is never as easy as the pictures you have painted here, there is a lot of things which we need to put in more detailed consideration, you will be stuck at some point and miss the target you are trying to achieve through greed, whenever we are trading, let us be realistic with the goals, by so doing, we are helping our mindset to act better.
      Paper trading is far easier than the real forex trading because when our minds starts playing tricks on us like this we start to feel that the forex market is something that is so easy but unfortunately the market doesn't work like that else everyone would have become millionaires by now, forex trading is deeper than what we see with our ordinary eyes you need to think and act outside the box to gain in this business.

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    4. #32
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      Quote Originally Posted by Neriah View Post
      When we say some things on paper, it sounds so beautiful that we want to immediately start making withdrawal even without trading, I can assure you that trading and increase of $20 into a bigger amount is never as easy as the pictures you have painted here, there is a lot of things which we need to put in more detailed consideration, you will be stuck at some point and miss the target you are trying to achieve through greed, whenever we are trading, let us be realistic with the goals, by so doing, we are helping our mindset to act better.
      you know everything is easier said than done, we can use our mouth and hand to make good analysis on a paper but when it comes to the practical step its always difficult , though this is not because we cannot repeat the steps but because we have something to loose if we make mistakes and this will always drew us back, i think its the same problem that most of us are having with transferring the same thing we learnt in demo into live trading account

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    6. #33
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      Quote Originally Posted by ehizmac View Post
      Paper trading is far easier than the real forex trading because when our minds starts playing tricks on us like this we start to feel that the forex market is something that is so easy but unfortunately the market doesn't work like that else everyone would have become millionaires by now, forex trading is deeper than what we see with our ordinary eyes you need to think and act outside the box to gain in this business.
      Paper trading is not only easy but very sweet and simple, you will be able to say this is what I would have done if I entered this trade or that one but in reality, you will not achieve that results, that is when we will see that many traders are making great amounts of money in the demo and flop seriously in the live account, there is so much difference between the two accounts being discussed, I have made some great money that is not possible with live.

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    8. #34
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      you must to trade about 2%of your capital to survive multiple loses .. but with a 10dollar account that would be impossible to respect this rule specely if your laverage is high .. more then 1:200 so my advice is to save this 10dollars and add more money to your account .. after all you are not gonaa make a fortune with just 10dollars

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    10. #35
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      Quote Originally Posted by dahech View Post
      you must to trade about 2%of your capital to survive multiple loses .. but with a 10dollar account that would be impossible to respect this rule specely if your laverage is high .. more then 1:200 so my advice is to save this 10dollars and add more money to your account .. after all you are not gonaa make a fortune with just 10dollars
      lol,saving the 10 usd and add to it? you some traders still thinks that its not the amount of capital we invested that matters but our trading strategy, no infact our trading capital plays a huge role in the success of every trader, assuming a trader start trading with just 10 usd? with proper money management how long do we think it will take to reach 100 usd not to say 100usd, its best we preserve the small capital and added more to it like my friend advice

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    12. #36
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      Quote Originally Posted by ehizmac View Post
      Paper trading is far easier than the real forex trading because when our minds starts playing tricks on us like this we start to feel that the forex market is something that is so easy but unfortunately the market doesn't work like that else everyone would have become millionaires by now, forex trading is deeper than what we see with our ordinary eyes you need to think and act outside the box to gain in this business.
      In the era of high internet marketing for forex trading business then many were made to believe that the forex market is a pool of easy money where a get rich quick hope is abundantly possible. Thereby, supporting of unverifiable claims and paper works were displayed. I think we are experienced to know that such was not true as the market requires due diligence and adequate learning of skills and sound knowledge in all aspects required which the risk management is among.

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    14. #37
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      Quote Originally Posted by dahech View Post
      you must to trade about 2%of your capital to survive multiple loses .. but with a 10dollar account that would be impossible to respect this rule specely if your laverage is high .. more then 1:200 so my advice is to save this 10dollars and add more money to your account .. after all you are not gonaa make a fortune with just 10dollars
      This is a wonderful advice mate, 2% is enough for us to risk for each trade, nothing is safe in the forex market and when we are protected through stop loss and a very good money management, our worries will be less once the trade is on, I don't know the role that leverage plays here anyway, but with a small account balance, it is always better that a higher leverage is used, the reason for this suggestion is hinged on being able to trade again when you experience a drawdown.

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    16. #38
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      Hehe hehe it is possible that we say that two percent is enough but we need to know that our risk tolerance percentage is highly different from each other, I think Martyfish has a suicide project that he is pursuing with a 20% risk for each position, how can you relate the two, the first thing we should be aware of is that forex trading is a business where each person is trying to do what he think will be appropriate for maximum profitable trades, you can use money management in the way you understand it, but never neglect your rules.

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    18. #39
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      The use of Money management policies by a trader is very important in Forex and it really makes a Forex exchange trader to finish with better results. Money management is something i learned a long time ago and since then it has assisted me greatly. The main advantage of using strong MM is all about protection of a traders funds from risks.

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    21. #40
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      Quote Originally Posted by GhostMode View Post
      The use of Money management policies by a trader is very important in Forex and it really makes a Forex exchange trader to finish with better results. Money management is something i learned a long time ago and since then it has assisted me greatly. The main advantage of using strong MM is all about protection of a traders funds from risks.
      Of course money management does wonders for the forex trader and unfortunately this is where we pay the least attention, that is very ironic because a trader that is always taking this less seriously may never amount to much while trading, MM is the basic information and understanding which the newbie must learn, when we join the market, we are always thinking of the profit without any plan for the risks that will come along the way, while we keep on with this kind of mentality, it will take a very long time for us to achieve what we are planning to do which is success, professional traders know this and use it to their advantage always.

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