the good money management
must don't afraid about cut lost, is trade wrong prediction is must cut lost
and money management in trading forex only use about calculation lot is compare capital money
Topic: How much do we know about Money management? (Read 1887 times)
what I use for MT4 is this: http://www.forexfactory.com/showthread.php?t=281772
just drag the line at your stop level and it will calculate the position size acording to what you chose.
unfortunatly we have few options to trade BTC with MT4
MT4 is the best used for forex trading, when you are talking about bitcoin or cryptocurrency trading you don't bring that into the scenario. The us of MT4 is highly technical which is essentially made for forex trading. just drag the line at your stop level and it will calculate the position size acording to what you chose.
unfortunatly we have few options to trade BTC with MT4
But trading bitcoin requires only the knowledge of where the price is high or low and buying it from the low price exchange with motive of making profit by selling in the high price platform.
My advice is don't use leverage at all. The alt space is so manipulated that a trade can do against you and you end up losing everything. That is bad enough if you haven't used leverge - if you have, you may end up seriously hurt.
i think i am not too good in money management, as it is a fact that i am earning a good amount money but after some days i became out of money as i do not know how to manage my money and therefore i wast most of my money in some useless things which really make me sad.
I am 85% in FIAT, %10 Gold, %5 Bitcoin now. FIAT is divided to USD %60 and EURO %25. I always short it if one of them goes through the roof and buy them when it hits the floor. This works for me and i think it should work for everyone. I don't trade my Gold or Bitcoin. I panic hold them. If they lose value i see it as an opportunity to buy more. I trade FIAT for FIAT only.
i think i am not too good in money management, as it is a fact that i am earning a good amount money but after some days i became out of money as i do not know how to manage my money and therefore i wast most of my money in some useless things which really make me sad.
The first rule of money management is; Do not put everything in the same basket.
The second rule of money management is; You make your profits when you are buying, not selling.
Those are my rules.
The second rule of money management is; You make your profits when you are buying, not selling.
Those are my rules.
The first rule is ok as I had a bad experience when putting all "eggs" in one basket which I lost mostly all of them.
The second rule is pretty good but this does not work always and not everywhere, you make profits when you sell them for a higher price than you bought it.
At the moment how I manage my money is investing a little bit on good things and holding most of my money and join the trading world when I have time.
The more you have the harder it gets to manage the money because you should spend more time and more power on it.
Because we have invested somewhere (in my case in ICO) i have invested a small amount of 0.2BTC and I don't expect to become right immediately on the first day but it's good to know how it goes and to understand when is the right time to invest and sell.
The first rule of money management is; Do not put everything in the same basket.
The second rule of money management is; You make your profits when you are buying, not selling.
Those are my rules.
The second rule of money management is; You make your profits when you are buying, not selling.
Those are my rules.
The first rule is ok as I had a bad experience when putting all "eggs" in one basket which I lost mostly all of them.
The second rule is pretty good but this does not work always and not everywhere, you make profits when you sell them for a higher price than you bought it.
At the moment how I manage my money is investing a little bit on good things and holding most of my money and join the trading world when I have time.
The first rule of money management is; Do not put everything in the same basket.
The second rule of money management is; You make your profits when you are buying, not selling.
Those are my rules.
The second rule of money management is; You make your profits when you are buying, not selling.
Those are my rules.
The first rule is ok as I had a bad experience when putting all "eggs" in one basket which I lost mostly all of them.
The second rule is pretty good but this does not work always and not everywhere, you make profits when you sell them for a higher price than you bought it.
At the moment how I manage my money is investing a little bit on good things and holding most of my money and join the trading world when I have time.
You have to invest only in these currencies which will have more active developers and will try to promote their coin and will try to provide services with their coins as coins like that grow more higher and if you want to invest in bitcoin then it is a good time to invest now as it is going to increase.
the best way to conduct financial management is to make sure we are spending less than our income.
it is a simple appreciation of financial management.
it is a simple appreciation of financial management.
very honestly i am not good in money management, although i am earning a good amount per month but sill i cannot manage my money in a proper way.
I would dare to say that money management is almost science and not everyone is good at that. This also takes skils and knowledge and to know how to deal with money and to get the max out of it. There are also money gurues who teach peole how to atract, earn the money and keep it. It is very complicated and takes time to get successful.
I just go complete contradict to your statements. Money management is not a rocket science, but it needs intense practice so that we can do that with all perfection. Just learning it will not work for any investor because no authors cover all the aspects of money management theories.Moreover, all investors will find themselves better in money management in second and third attempts onward, yes everyone will face problems in their first attempt mostly.
I would dare to say that money management is almost science and not everyone is good at that. This also takes skils and knowledge and to know how to deal with money and to get the max out of it. There are also money gurues who teach peole how to atract, earn the money and keep it. It is very complicated and takes time to get successful.
One of the vast and effective job in this world is the money management. Because you need to know where to deposit and how much you will get and when. So need to be very updated about the various schemes and instruments of investment
Yes. Its one of the most demanding jobs in the world, its rewards are in line with the demands and efforts of though.
i think i only know a little about money management, and as far as i know, if for example i only have 1 btc, i will split it into few parts, i will keep 0.3 bitcoin in my wallet, i use the other 0.3 bitcoin to trading, and for the rest 0.4, i will use it for backup fund if something bad is happen. i only know that and i think i need learn more about money management.
Send me a message with specifics if you need any help.
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i think i only know a little about money management, and as far as i know, if for example i only have 1 btc, i will split it into few parts, i will keep 0.3 bitcoin in my wallet, i use the other 0.3 bitcoin to trading, and for the rest 0.4, i will use it for backup fund if something bad is happen. i only know that and i think i need learn more about money management.
One of the vast and effective job in this world is the money management. Because you need to know where to deposit and how much you will get and when. So need to be very updated about the various schemes and instruments of investment
what I use for MT4 is this: http://www.forexfactory.com/showthread.php?t=281772
just drag the line at your stop level and it will calculate the position size acording to what you chose.
unfortunatly we have few options to trade BTC with MT4
just drag the line at your stop level and it will calculate the position size acording to what you chose.
unfortunatly we have few options to trade BTC with MT4
Thats a nice option.
But, imho, it is akin to casino's not having clocks.
The more quickly you make decisions the larger is the chance you are making a mistake. One of the main reasons I advocate using/calculating R:R is not because it does a lot for the trade. It is to do with your mental frame of mind.
You are not looking at the chart and saying: thats a great set-up it cant possibly hit my stop. It gives you 2-3 minutes where the your brain looks at thins in black and white while your hands are either feeding it in to an excel sheet or a pen and paper. That 2-3 minutes has helped me to avoid so many trades(some of them ended up good, some bad.) the net of whom has been in the red.
To each his/her own though.
well, you can always use a stop-watch, lol
but I understand what you mean
what I use for MT4 is this: http://www.forexfactory.com/showthread.php?t=281772
just drag the line at your stop level and it will calculate the position size acording to what you chose.
unfortunatly we have few options to trade BTC with MT4
just drag the line at your stop level and it will calculate the position size acording to what you chose.
unfortunatly we have few options to trade BTC with MT4
Thats a nice option.
But, imho, it is akin to casino's not having clocks.
The more quickly you make decisions the larger is the chance you are making a mistake. One of the main reasons I advocate using/calculating R:R is not because it does a lot for the trade. It is to do with your mental frame of mind.
You are not looking at the chart and saying: thats a great set-up it cant possibly hit my stop. It gives you 2-3 minutes where the your brain looks at thins in black and white while your hands are either feeding it in to an excel sheet or a pen and paper. That 2-3 minutes has helped me to avoid so many trades(some of them ended up good, some bad.) the net of whom has been in the red.
To each his/her own though.
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