Traders must have the appropriate money management skills

[Ivo Zetticci]

Traders must have the appropriate money management skills to help minimize loss factors and maximize profits. It is hard to survive in the forex market long without proper money management. Because leverage allows the trader to control more money than they have. So, there is a high possibility to lose all money in a single trade. However, in my case, I learned proper money management strategies from my broker Eurotrader.

 

[Chibson]

Money management skill is very important for anyone who really wants to make money both online and offline especially trading such as cryptocurrency and forex trading . The main reason a lot of people lose their money they have gained it's because they simply did not have money management skill. Someone can have the expertise but if you cannot manage your finances well you will definitely not succeed in trading.

 

[sincerem]

The higher the leverage the more the risk, we should trade forex based on experience and not just entering into it cos we we have money and we want to spend it lavishly in order to earn big to cover other expenses. It is not done that way, we need to learn to manage the finance, trade when it is worth it, follow signals, and signals to have clue to pick the right currency pair to trade with leverage we can afford to risk.