Proper money management is require din forex trading
money management means when you are opening any deal, you should keep in mind how much you want to earn from this deal. For this, you can set TP for that particular deal
on the other side, you should also be ready to face maximum loss from that deal. For this, traders use SL tool
Apart from this, you must have exact idea of your equity and free balance and you should always open deals according to it
I have saw many people losing money in forex trading because of bad money management only. They open position with big lot size to earn more and at end they losing all. So if you do proper money management, then you can stay long in forex market.
As you sow, so shall you reap.
Every work needs management. It is said management do the half work. So its better having a good money management if a trader want to last long. Otherwise his trading experience will just end in short time.
Money management is an integral part of forex trading if one wishes to stay alive in forex. As the volatility it too huge in forex, we need to manage our trades. Each trader has to decide on the max one can loose per trade. Even for the most aggressive trader, loss should be less than 10% per trader to safeguard his capital.
money management is to a manage forex account keep profit and save your money from margin call
just to make money management with real plan you can