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Message: <blockquote data-quote="juan28" data-source="post: 21296233" data-attributes="member: 559313">Money Management is always the key to success in forex . well I call this has the heart because this is what gives you “EMOTIONS” .  If you keep money management good then you will have “POSTIVE EMOTIONS “ and you make profits but if you fail to have this money management then you will have NEGATIVE EMOTIONS  and you start losing money. Don’t straight forwardly use your personal savings to start in this market.  Test your trades with strategies which you have with R:R and then slowly you can start with your money, Well if you have spare dollars to trade then it is totally fine but “” NEVER NEVER TRADE WITHOUT A MONEY MANGEMENT PLAN “  Now there are brokers who give out demo account while some give No deposit bonus live account. You can try Forex signal with these brokers.  You can get a “ NO –DEPOSIT BONUS $30” to see how much you can make in $30 and if your profit then you can withdraw the profits after meeting the conditions.  <a href="http://clicks.pipaffiliates.com/afs/come.php?id=4824&cid=66249&ctgid=1111&atype=1" target="_blank">http://clicks.pipaffiliates.com/afs/come.php?id=4824&cid=66249&ctgid=1111&atype=1</a>What is the strategy for this money management? RISK: REWARD (R: R) ratio with good winning rate is the only answer for our Money Management Strategy. I am not going to explain what is R: R but I will be speaking what we can achieve with this R: R.Let’s assume you trade 10 entries with all trades 1 : 2.  How many trades do you want to be breakeven???  How do you determine the lot size? This is simple. You will have decide what percentage of risk(capital)  your take for a entry. Well I recommend .05% to 1% per trade and 3% - 4% if you have mastered the market.  In simple terms if your capital is $300 then your lot size has to be .01 for 1% risk and .02 for 2% . Now you put large barricade  of 20% drawdown for the whole capital that means that if you lose more than 20% of your capital then “SYSTEM IS NOT GOOD “ . If you get a system with every trades are  1 : 2+  (Risk:Reward ) with profitability 40% then simply remember that “ I WILL TRADE .01 LOT  PER $300 (1% RISK ) FROM MY CAPITAL  AND I WILL NOT TRADE IF I LOSE MORE THAN 20% OF MY NET CAPITAL “IF YOU CAN MANAGE A SMALL ACCOUNT WITH CONTROLLED EMOTION then YOU CAN TRADE A BIG ACCOUNT </blockquote>

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