Definitely! Traders should know how to manage money and risk. Every trader should risk small capital and proceed with calculated risks.
its a very good trading skill and to be experienced about this its a very long time issue , so we have to keep patience first of all.
One of the most important strategies in forex, money management allows you to save your capital when the market is trading against you. Stop-loss is a great money management strategy, which allows you to exit the trade when you start losing so that you don’t lose big.
to be skilled amount a professional money management is really a tough game and relate with long time issue , so traders fail to keep interest after passing sometimes.
For me money management in forex is an effective way to utilize the capital in order to avoid risks and losses.
I have to agree with this thread. Money management is very important in forex. It is better to start learning about it during the initial stages to improve profits and control your losses.
Money management is very important in every aspect of trading. You can lose all your money in forex trading where your funds are put at risk. So it is your job as a trader to minimize that risk of losing your money.