Absolutely, I couldn't agree more! Money management is a vital aspect of successful trading, and it often gets overlooked or underestimated. No matter how powerful our analytical skills or trade knowledge are, without proper money management, we're like sailors on a stormy sea without a compass. Here’s a guide on money management for beginner: https://insights.primecodex.com/money-management-forex/
I don't think that learning and controlling risks is a long process. You can learn it quite quickly. The question is different: many traders do not consciously control risks in order to be able to earn quickly and a lot, they are controlled by greed and haste. Therefore, they lose their deposits in pursuit of big money.
Well i wasn't discussing the ideas of money management or powerful trading strategy. I just said we need to put stop loss at every trade so we cannot risk all of our account at stake so if you have any money management theory please enlighten us with your thoughts.
To prevent the stop loss from taking up most of your deposit, you also need to correctly calculate the lot size in trades according to the size of your deposit and according to risk management rules. Only in this case will your stop losses minimize losses on incorrect entries and protect your deposit.
Most of the brokers does not allow initiating trades more than the lot size according to your account size in my opinion.
In order not to make trades with an inflated lot and not to jeopardize your deposit, you can set a small leverage size and trade with lower risks.