Money management skills

[kxforexmart]

When we can trade with proper money management ,we can definitely trade with proper protection without much risk taking as traders know exactly what they are doing and in which manner.

 

[Ramon]

Yes i do read articles at bloomberg and other relevant sites, it usually helps me building more confidence to arrive at any conclusion related with forex.

which articles about forex are most useful for traders?

 

[alextrader79]

which articles about forex are most useful for traders?

Sorry to interrupt, but read barchart, insidefutures, earnforex, forex factory - there are lots of useful news

 

[Ramon]

Sorry to interrupt, but read barchart, insidefutures, earnforex, forex factory - there are lots of useful news

thank you for your advice! Did you read blog about forex trading from LiteForex?

 

[Faal]

Money Management is one of the most important pillar here! Greedy Forex traders lose their full trading balance end of the day, since they don’t respect money management as well as risk management policies! On the other hand, professional Forex traders are able to recover their trading mistakes so smarty, because of using MM trading rules in their trading!

 

[alextrader79]

thank you for your advice! Did you read blog about forex trading from LiteForex?

No, I don't find such resources as much useful as those that I noted above. I've looked through articles on my brokers site (not lite fx) , but all of them are for newbies. And Barchart etc are for more experienced traders

 

[The trader]

If you have a good trading skill, but no money management knowledge that means, till now you are in a danger! MM is the most protective way of trading! It will help you to avoid big losses in your trading and recover your losing trade positions!

 

[alextrader79]

where are you get usful infoamtion?

Investing.com, Barchart.com, Insidefutures.com, Forexlive.com, Dailyfx.com
It's not the full list of such resources, anyway, you can find a plenty of useful information (live charts, educational articles, economic calendar, reviews, market commentary and technical analysis, etc.)
Just keep them in your Bookmarks, visit all of them and choose the ones you like the most and that fit you the best. All in all, they provide the same helpful info for traders, especially if we talking about the news and high volatility during events. So I advise you always to keep one Forex market news stream opened

 

[alextrader79]

i read investing and dailyfx sometimes, they have good analytic reviews like liteforex analytc which i use in my daily trading

Try visiting Barchart etc. , expert traders often make forecasts there along with making some useful market commentary

 

[raniya]

Money management skills is important for trader because forex is risky. We can use demo account to learn about forex. In FXB, I also use demo account to learn more about forex trading and also understand market movement

 

[kxforexmart]

yes traders when they are experienced and skillful can handle the money and risk management skill in a proper way and like that they can make good progress in a better way

 

[kxforexmart]

yes traders should have the get the perfect money management skill so that they can handle the profit in a proper manner when the trading account is about to be blown off

 

[shaunklein]

Money management in Forex trading is a standout amongst the most essential issues of new and even progressed forex traders. Nearly everyone can locate a decent trading framework that can be gainful however something that makes traders lose and be negative toward the finish of the month, is absence of an appropriate money management procedure and discipline. In spite of the fact that cash administration is so imperative and basic, it is still simple to take after.

 

[Lee Mark]

Money Management is one of the most important pillar in Forex success! In addition, all of professional Forex traders can recover their losing trades position so nicely since they follow money management policies here! Yes, I always open my trade based on MM.

 

[raniya]

Without good money management, we will not be able to get maximal result. AS a trader, we need to learn how to manage fund which is deposited. And in forex, we can start trading with small amount by using leverage. Harness the trading power up to 1:1000 leverage to boost your trading results in FXB Trading

 

[Glenn Phillips]

Teach something especial new is really good for trading. But besides teaching we the traders have to practice to see the performance. I have seen so many traders always teach , but never can profit at all. I think the main reason is not to practice well. I use demo account for practicing my trading and that I have learned.

 

[Gerald Davydov]

Risk management is a core concept that protects your trading capital from losing trades. It should be part of your trading strategy immediately when you begin your trading career.
Risk management encompasses concepts like stop losses, scaling in and out of trades, and risk to reward. Understanding these methods can help you maximise your profits and avoid losing your trading account

Trading is risky business since anybody would loss be able to immense cash in a couple of moments seconds. This is the motivation behind why money management and psychology assume extremely critical part in trading. As it is a risky business that's why there is risk management rules. Every trade needs to follow risk management policy according to his or her trading style

 

[Changer]

I agree. You need to manage the risks correctly, analyze, understand what you are doing, and watch your capital and funds. Pay a lot of attention to finance.

 

[Nezami]

The best part of the forex strategy is money management –make sure every time you trade , you don’t risk more than 2-3% of you account otherwise you will break your account pretty soon. I learned that lesson from my own experience.

 

[Tom Latham]

The best part of the forex strategy is money management –make sure every time you trade , you don’t risk more than 2-3% of you account otherwise you will break your account pretty soon. I learned that lesson from my own experience.

Yes, that’s the decent ratio, but I see few traders are interested in aggressive trading lots size! They are basically greedy Forex trader, and the ultimate result is death.