Every trader must practice one or the other form of money management to succeed. You can either focus on a few large winning trades or numerous small winning trades that add up to make a big profit. Money management is flexible and can be done in accordance with your risk tolerance.
Learning right money management requires a trader to be patient enough to devote time to practically learn it.
patience is really important for all kinds of productive work , but its a mental habit and to be experienced about this , need a long time work on it.
I just joined this forum as I'm really interested in forex and all the different trading strategies. I totally agree with the post about money management - it's just as important, if not more so, than having the right knowledge and experience.
Good money management is the best method to safeguard your investment and profit. You may gain a lot of money on one deal but easily lose it on another if you don't have solid money management discipline. It is a must-have if you want to make a consistent profit.
Money management is a crucial aspect of successful trading. Even the best trading strategy can result in losses if proper money management techniques are not followed.
beginners always try to make a strong money management but due to lack of knowledge and experience they fail , actually to build a strong MM first of all need a long time practice.