Money Management is important

[Hoper]

I agree with you. This is a very important element of profitable trading.

 

[Zygosis]

It’s not easy to decide how much you want to risk per trade and when you find it out, you take a step forward in your career.

 

[mitchalcling]

Money management plays a pivotal role in forex trading. It is extremely important and every trader who ignores it, will likely fail in the long run. It aims at managing trades and minimising losses. Money management is somewhat similar to risk management because the goal is to preserve the money..

 

[Charles Agustin]

No doubt on it! Money management is the key! If your trading strategy provides more than 70% success ratio then till now you can lose money here, if you are not serious on money management plan! So, don’t be aggressive in your trading, be logical & sincere on your risk reward ratio!

 

[Patrizia Bruno]

No doubt on it! Money management is the key! If your trading strategy provides more than 70% success ratio then till now you can lose money here, if you are not serious on money management plan! So, don’t be aggressive in your trading, be logical & sincere on your risk reward ratio!

I totally agree! Successful traders are good money managers. It allows traders to take appropriate risk while managing the downsides.

 

[sarahgoutvaks]

Money management plays a pivotal role in forex trading. It is extremely important and every trader who ignores it, will likely fail in the long run. It aims at managing trades and minimising losses. Money management is somewhat similar to risk management because the goal is to preserve the money..

Agreed! It also provides a strict path to follow in order to achieve the goal as a trader.
Having a good discipline in money management allows traders to gain long-term success in trading.

 

[Gard]

This is always overlooked definitely use risk management this will allow you to profit

 

[AyandakingV]

Indeed risk management is very important I don't know how many accounts I've blew over the last couple of years but I learned from my mistakes so study Guys you can't get rich over night.

 

[Serimeter]

There is no doubt that money management plays a pivotal role in forex trading. So, in order to minimise losses, it is very important for all traders to educate themselves about money management techniques like tracking expenses, analysing the trade and budgeting the position size to limit risk. The right way to handle money management is to solely focus on both the risk and reward factors.

 

[jamesgarcia]

The most important and the most difficult part of forex trading is money management. You know that you will have to put in money to make it but still, you can’t because you are not sure if you will make a loss or profit. And if you don’t risk any money, your broker may start charging you for keeping your account inactive. The struggle is real and only money management can save you from this.

 

[Liang Huiqing]

The money that you put at risk is yours. So, be mindful because the goal is not to lose all that you have while trying to make what you don’t have. Money management helps you with exactly that.

 

[Aventail]

Just like any other sphere of life, money management is important. Just wanted to ask if you take risks with your money without thinking? No, right! The same must be done while trading forex also. No matter how profitable a market movement seems to be, you must never use an amount that you can’t afford to lose.

 

[Yin Chen]

My entire trading career, I never did something that I didn’t understand. The money I used for trading was something that I had kept for my future. I never move ahead without using stop loss orders. I close my trades when my trades reach the take-profit point. All this has helped me manage my money and losses to a great extent.

 

[TerenceDavi]

In spite of knowing how important money management is while trading, not many traders practice it in real life. The only reason for this that I can think of is it being a monotonous task, where traders have to continuously monitor their trades. These traders need to know that there are no pre-set rules for this. The money management in forex is flexible and the only thing to keep in mind is that you must follow some kind of money management rules to keep your money safe.

 

[fartkontrol]

I completely agree with you. Money management plays an important role. In the beginning, there are high chances that you’ll ignore it but if you really want to survive in the market, you have to have a strong money management strategy.

 

[Talisman]

It’s obvious that no trader would want to put their money just anywhere. They will analyse the market and come up with a money management strategy that helps them put their money in the right way. You can build rules for yourself as per your needs.

 

[Pontoon]

Without money management in the forex market, you will be like that curious child who has been given money and sent to a fair where all the stuff looks so pretty that you would want to buy them all.

 

[fdkdaksf]

money management is key in this game, it could turn bad trades into winning trades

 

[Jingoism]

Money management is essential to being a good trader, it is a skill that takes time to learn, and one should be patient with it. There isn’t anything other than that which you can do. Be careful and make sure you know what you’re doing.

 

[Bumbledom]

Absolutely. Money management is extremely important. Without having the skills to wisely manage your funds, you can end up making your bank account zero.
Not only a trader but basically everyone should know the very important skill of money management.