I like how nobody has mentioned that risk and reward strategies go hand in hand, which brings me to recommend "Fibonacci Retracement" its a great feature for showing resistant and support levels for when you are makeing a trading, though i have noticed it seems to work better for me in long-term trades

Very important factor in trading. Without risk and money management, risk of blowing your whole account is 99.9%.

Originally posted by 4nt5

I like how nobody has mentioned that risk and reward strategies go hand in hand, which brings me to recommend "Fibonacci Retracement" its a great feature for showing resistant and support levels for when you are makeing a trading, though i have noticed it seems to work better for me in long-term trades

 

FYI nobody has pointed out yet that risk management doesn't necessarily mean strictly reducing risk only, I tried 4nt5's tool and i made a killing after giving it a whizz. Definitely recommend it. The support and resistent levels are very useful! from negative i shot up over +1% growth, definitely going to keep using, thanks for the recommendation!

Risk management is a helpful factor necessary in forex trading.Without proper knowledge and implementation of risk management we can lose a huge amount of money in a very short span of time.

Originally posted by Purplemoney

 

Originally posted by 4nt5

 

I like how nobody has mentioned that risk and reward strategies go hand in hand, which brings me to recommend "Fibonacci Retracement" its a great feature for showing resistant and support levels for when you are makeing a trading, though i have noticed it seems to work better for me in long-term trades

 

 

 

FYI nobody has pointed out yet that risk management doesn't necessarily mean strictly reducing risk only, I tried 4nt5's tool and i made a killing after giving it a whizz. Definitely recommend it. The support and resistent levels are very useful! from negative i shot up over +1% growth, definitely going to keep using, thanks for the recommendation!

 

 

A good trading system will always encompass risk management, I've only learn't this recently but if you dont know where your S/L point is generally after doing your analysis then your trading system/analysis needs to be refined further. Once you've got that down you will find fx trading much easier to do and profit.

I think the better question to discuss is how do you trade? i know its a closely guarded secret for traders to avoid diluting its effectiveness but if you share it, its not 100% going to be used but a 2nd opinion could improve its effectiveness by leaps and bounds 

Reading this thread makes me aware that forex risk management is really important.Without this you will always be able to lose and ofcourse if that happens fear will takes place.That's why we need to use proper risk management for us to be successful too.

Originally posted by dianayes

Reading this thread makes me aware that forex risk management is really important.Without this you will always be able to lose and ofcourse if that happens fear will takes place.That's why we need to use proper risk management for us to be successful too.

 

Originally posted by Sasha

Very important factor in trading. Without risk and money management, risk of blowing your whole account is 99.9%.

I absolutely agree. Do you have a working risk and money management that you can suggest to a newbie like me?