Money Management In Forex Trading?

[moonchild]

We've been talking about strategies and psychology lately but there's an elephant in the room namely the risk management also known as money management, lack of funds management contribute greatly to the decline of many traders account and it's not surprising to know that most people accounts get blown because they don't apply proper risk management to their accounts.

To adhere to a good money management during your trading always make sure you're not risking more then 1% of your trading account in any trading idea no matter how good it seems, this will enable your account to not be damaged till you take 100 trades, which I guess is not possible even if you don't know how to trade.

Another tip for good money management Is not to add to your losses because by doing that you're jeopardising your account , do you have any other money management tips you can share?

 

[Asahi]

Your trading will turn into anarchy if money management is absent. Learning will grow ability in a trader and in increases traders’ inherent capability. I prefer trading in Indices1000, Crypto500 and USD basket instruments with tighter spread provided by FXOpulence broker.

 

[FinTrader]

Your trading will turn into anarchy if money management is absent. Learning will grow ability in a trader and in increases traders’ inherent capability. I prefer trading in Indices1000, Crypto500 and USD basket instruments with tighter spread provided by FXOpulence broker.

Yes, without following money management you will not be able to consistently earn each year. Only if you have a proven strategy, following the rules of money management, you can achieve a positive result. My broker is FXOpen and it also has a tight spread.