Poor Money Management.

[Kokomaster]

Any trader that is not good in planning he will also poor in money management. These two things are related to each other. A person who cares about plan and management in daily life he will certainly use his trading capital in a wise manner or he should learn this thing from practice . Forex trading success is based on risk management so we can not go ahead without this ability.

 

[carnelian]

This money management is the thing that makes a trader better than the other. Sometimes you got so emotional after a loss that you just blow your money management rule and suffer big time.

 

[jessicaunu]

Yes, if you trade your money badly, it may result in loosing all your funds and it will be hard to trade again. the more the losses, the more a person is afraid to trade.

True. so we must be wise to minimize our losses so it doesnt mess with our minds and discourage us from trading.

 

[pashaev]

The percentage of risk should be inversely proportional to the size of the deposit.

 

[fxoday]

Bad habit as newbie included thinking they can make a big profit at short time with greedy, this is most terrible in trading, as my experience since a newbie also still poor in money management and tend to reckless in trading, but with time, although not say as the best, gradually can more discipline with money management trading

 

[michaelmyer]

Poor money management is one of the most exceedingly terrible record executioners for new traders. This backpedals to eagerness, since traders commonly overleverage while shooting for doubtful benefit targets. You ought to risk a little level of your record on each exchange, and you ought to risk a similar sum on each exchange. I prescribe failing to risk over 2% for every exchange. Numerous fruitful Forex traders risk 1% or less per exchange, and some exceptionally effective and experienced traders risk 3%.

You are right. I risk just 2% for mine

 

[sebking1986]

You are right. I risk just 2% for mine

Same I don't go above 2% risk per trade at this stage. Ideally I'd like to reduce this with time

 

[Rick Beesley]

isn't money management super personal thing? you know what I mean?

 

[nahiyar]

yes, it is totally your personal how you use money and try to manage it, Others can just give you an advise on the base of their experiences. I think nobody wants to mismanage his account during trading it is our less skills in trading that react. With further experience trader will certainly handle poor money management problems.

 

[weedforlife]

isn't money management super personal thing? you know what I mean?

well yes and no.
there are some certain rules that you have to follow in order to succed you know. so it's personal thing but based on certain rules
cheers