Poor Money Management.

AndrewBlack

Highly Suspicious Person
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
 

KristenLove

Highly Suspicious Person
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
 

bigdolly

Sergeant Major
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
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?
 

kingsman

Corporal
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.
 

Boyd35

Recruit
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
 

AndrewBlack

Highly Suspicious Person
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
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?
 

OksanaChyzh

Banned Spammer
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.
 

KristenLove

Highly Suspicious Person
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?
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.
 

OksanaChyzh

Banned Spammer
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.
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.
 
Top