Quote:
Originally Posted by PrinceofTower
Money management is all about controlling your risk. Great traders do not risk more than 3% of their capital per trade.
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Don't forget the thread was for beginners not for 'Great Traders' :confused:
Everybody is afraid of loosing their money in this market as these markets are risky and unpredictable as well, so the fear of loosing money is always there. A newbie needs to learn how to always trade by using proper money management and put stop loss to his trades so that the losses will be minimum if the markets reverse from direction of his trade. At the same time he needs to control his fear as well to perform quality trades.