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January 24, 2008

Principles For Money Management

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When new traders start learning how to trade, most of them, think it is all about entering and exiting trades. Yes that is a big part of trading but you will become more successful if you learn how to manage your money.

Here are a few tips about managing your money

1. Never trade without a stop loss
2. Never over leverage your account.
3. Do not get greedy.
4. Accept loss as a part of trading.
5. Protect your profits when your position is profitable
6. Always trade with money you can afford to lose.

Topics: Money Management

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One Response to “Principles For Money Management”

  1. Carnival of Debt Management #38 | Credit Card Lowdown on February 10th, 2008 12:33 am

    [...] Norwood presents Forex Money Management Principles posted at Forex Strategy Blog. Managing debt can get very burdensome. The forex market can help [...]

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