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Poor Money Management.

Discussion in 'General Forex Talk' started by Jeff Martinez, Oct 2, 2017.

  1. AndrewBlack

    AndrewBlack Recruit

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    New traders have to start with demo account to learn the principles of money managemant. If you do that the risk of failure become lower. Start with small steps and learn. It is one of the bigest mistakes when person that is new to forex makes rash decisions and just lose his/her money
     
  2. KristenLove

    KristenLove Recruit

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    I had real problem with money managmant when I started trading. It was like all the things you mentioned before. I lost lots of money trying to doble my account value. But now I realize how stupid I was
     
  3. bigdolly

    bigdolly Sergeant Major

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    And how did you solve your problems? Did you find solution yourself and got some help from mentor or trading expert? It's very important for rookies to understand is it just a matter of time and they will overcome troubles or it's necessary sometimes to seek help?
     
  4. kingsman

    kingsman Corporal

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    I will use both ways to overcome my mistakes in trading specially money management is a key factor that is being skilled after a long journey. First, I will get help from my mentor or trainer to clear ideas that are essential for money management then I will apply them on trading , evaluate my performance regularly find mistakes to solve the problems . With time and practice, I am sure I can fix many money management errors.
     
  5. Boyd35

    Boyd35 Private

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    I would never understand why are traders reluctant to use money management. Is it sort of inexperience or maybe greed? MM is one of the first things thought in Forex and basic survival kit for every trader. So, it would be wise to use it always
     
  6. AndrewBlack

    AndrewBlack Recruit

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    That's tipical. Newbie traders get greedy and overconfident and then have a lot of problems.

    What is the avarage % of the account you use for every trade?
     
  7. OksanaChyzh

    OksanaChyzh Recruit

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    Every time when I get to read the threads like this I get convinced how important it is to be aware of the moneymanagement rules and to be carefull with the percentages.
     
  8. KristenLove

    KristenLove Recruit

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    I get to understanding by myself. Reading forex literature and forums, watching youtube on this topic. But I think it is also ok to seek help from experience traders.
     
  9. OksanaChyzh

    OksanaChyzh Recruit

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    Maybe you can share the materials you read or watched. I thnk it would be nice for traders that are new to find some information that helped other trader.
     
  10. KristenLove

    KristenLove Recruit

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    There are lots of materials on babypips.com. That's the place where I learned most. Also just YouTube. I don't think I could find the videos.
     

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