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Thread: Money management techniques

  1. #11
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    The first and perhaps most important step to successful forex money management is accepting the fact that you can lose on any trade you enter. Many traders convince themselves that “this trade” has to be a winner because it looks so “perfect,” they then risk more than they are comfortable with losing and they “expect” to win on the trade. Even if this works out three or four trades in a row, it’s bound to back-fire eventually. When you eventually hit that losing trade that you’ve risked too much on, it will inevitably cause a snow-ball effect of emotional trading because you will feel an urge to “make back” all the money you just lost.

  2. #12
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    Foreign Exchange can be anything you want it to be. But don’t get me wrong, it isn’t for everybody.Trading Forex profitably requires a great deal of discipline. There is tremendous opportunity for profit, but if you don’t trade in a disciplined manner you can quickly make a serious dent in your capital.
    Forex trading can be done by anyone, as long as there is a desire and ability to analyze market movement, high risk offers a great opportunity to be able to make money. Today, many people join for this business, because we can get started with a little minimum deposit like in Tickmill, 300 USD for ECN account service are good deal to start with.

  3. #13
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    Quote Originally Posted by trading_system View Post
    The first and perhaps most important step to successful forex money management is accepting the fact that you can lose on any trade you enter. Many traders convince themselves that “this trade” has to be a winner because it looks so “perfect,” they then risk more than they are comfortable with losing and they “expect” to win on the trade. Even if this works out three or four trades in a row, it’s bound to back-fire eventually. When you eventually hit that losing trade that you’ve risked too much on, it will inevitably cause a snow-ball effect of emotional trading because you will feel an urge to “make back” all the money you just lost.
    We will not be "perfect" trader. There will be mistake which we will do. But if we want to get success in forex, we will try to minimize it and learn from our mistake. When we are still new, i'm sure our management skill will be not as well as now.

  4. #14

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    hii
    yes it is easy trading on forex . it helps to manage our money properly and helps in trading in a right way .

  5. #15
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    Management skills must be owned by traders if traders want to get maximal result in forex. We can try to use demo account first to make us be more ready to start trading here. Do not forget that we also can hone it using demo account, even we also can use cent account like given by TenkoFx

  6. #16
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    In forex trading, money management is very important. By having good money management will make us able to trade with the maximum. Forex is a business that has a high risk, so as to be able to minimize the risk then we need to always have a money management well

  7. #17
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    Quote Originally Posted by gabanda View Post
    In forex trading, money management is very important. By having good money management will make us able to trade with the maximum. Forex is a business that has a high risk, so as to be able to minimize the risk then we need to always have a money management well
    Absolutely right, Money management is very important in Forex trading and while trading it should be the primary aspect to take into consideration.

  8. #18
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    the key for us to be successful in forex trading is to have good money management, because by having a good money management will allow us to trade with the maximum and we can trade with much longer. We can practice good money management to try trading using small capital

  9. #19
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    There are plenty of educational courses and resourses on web. For example, here is FreshForex Encyclopedia, where you can read about money management and trading psychology in general, technical and fundamental analysis etc.

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