always know how much money you will lose if a trade stops out and always be sure that even if it loses, it won't matter as it is not going to touch more than 2.5 to 5 % of your account. Otherwise you will freak out, trust me. With money management, even if the first 10 trades fail you will still have enough equity left to learn from your failures to adjust your strategy. If you risk too much per trade, trust me you will freak the hell out if the market goes the other way. and then you are in a spiral of emotions that is not going to make you one of those "sustainable traders" that constantly book profits. I hope this helps some of you as I learned this lesson quite late. I always thought money management would be soely about chances and maths when it really is about trading calmly, professionally, and, profitably in the end! So take care, develop your strategy and forget about getting rich quick. Making some safe extra money each month is awesome too
Dear fellow you are right that we should have a clear plan that how much we can lose,if we will not be clear about that than we can lose all the capital in few trades ,always have a good money management plan in the Forex market for better results
Well money management is totally depend on your strategy if you make sensible strategy then definitely the book of profit will increase How a member can succeed when he ignores the margin and putting a new order in fact my account being washed due to less knowledge of money management
Last edited by tahir 5350; 05-16-2019 at 01:13 AM.
Risk management is a very important aspect in trading, if you ignore it which many traders do, you will end up losing a lot, its not just about knowing where and when to enter the market it is also about how to control your loses when market is not moving in your favor, if you insist or stay in a losing situations you will wiped out your account soon.
Successful trader in forex business is that who calculate the amount of profit or loss before opening the trades. If you keep deep eyes on your account balance and hence you can calculate best figures about your trades that what will be profit or loss in case when trades goes in your favor or goes against you.
Investors should be of two thoughts before investing their money; the thought to gain and to lose. The latter must well be considered because it is the thought to protect yourself so that your money will not be lost into the market. Even if gains will not come, don't lose.
it is good that before one starts any thing he or she should know the disadvantage of doing anything he wants to. so in forex trading it is or proper that a traders knows that there might be possible loss especially when the market is unsatble or your parameters of judgment are not right. the more you prepare the better chance you have.
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