Poor Money Management.

[michaelmyer]

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

Thats a good one. with more capital it makes it easier to do i must say.

 

[downtrend]

All those who say money management is important are your friends they want you to learn at least small management tips. When you are doing practice on it n demo accounts your training will be good finally you will always take care of management rules whenever you are going to face real market. Rest is upon you either you waste your amount or protect it.

 

[Anastas]

I think that before you trust someone to manage your money, you need to collect as much information as possible about how this is done. And only then trust your money.

 

[MartinBasilik]

this is one of the essentials - you need to know how are you using your money and you need to know risks.
knowing what you can gain is really important, but knowing how much can you lose is even more importantly.
Also having a plan is a pretty good idea, it will help you with an execution of your dream.

 

[sebking1986]

Too many think it is a get rich quick scheme and so don't bother sticking to any form of risk or money management system. Serves them right

 

[fxoday]

Know the risk is a good way to manage the account, because trading also need a plan, in the plan included how to determine risk in trading, lowest risk will increase more chances, but the higher risk will narrowing opportunity

 

[Stephen Paul]

Certainly poor money management is one of the main culprit for the traders to lose their hard earned money to the forex market. We should always plan at return on the long term, instead of having thoughts of making money quickly only to lose it all at the end because of poor money management.

Totally agree.

 

[bigbax699]

risk management is a must in forex. if you dont have that then dont start trading

 

[momo3HC]

Too many think it is a get rich quick scheme

That`s the fake marketers advertising game. That`s how they`re presenting it.

 

[JohnnyJoe]

They soil it for the legit traders