Forex Money Management Tips

Basic principles of money management:

• Do not risk more than 1-2% of your deposit: For each trade, determine the risk as a percentage of total capital.
• Use stop losses: Set a stop loss to limit losses in each trade.
• Diversify risks: Don't invest all of your capital in one trade or instrument.
• Avoid trading on emotion: Follow a pre-determined trading plan, avoid impulsive decisions.
• Define risk management: Make sure the Risk/Reward ratio of the trades is justified.

Tips for long-term success:

• Evaluate your strategy regularly: Analyze the results of the trade and adjust the approach.
• Learning and practicing: Constantly improve your skills and study the market.
• Avoid excessive leverage: Use reasonable leverage to reduce risk.
• Control your emotions: Fear and greed can lead to mistakes. Stay disciplined.