Controlling Losses and Managing Money

[WitchesElektra 70]

Please provide us some good tips

[GeekyBiome 18]

I'm having difficulties trading on my demo account. I require assistance with money management and loss. I need to learn how to set "stop loss" and "take profit" orders.

[deeffort 50]

You might want to go to Babypips if you want to learn more about money management and risk management.

[DorkBedrock 63]

Set your stop loss at the "last high/low" and your take profit at the same level.

When trading, ALWAYS LOOK LEFT on your chart to see the market's possible high and low.

Only enter trades that offer at least a 1:2 RR.

[squishde 12]

What do you think about the need for a working strategy? That's why I initially suggested Babypips.

[kimonode 14]

Begin with 0.01 lot for a beginner. I used the sl 300 and tp 500 points from the opening position.

[hillsdet 7]

For beginners, Babypips is a good place to start. You should look into it.

[malk0n 48]

Look to the left of the chart for previous highs and lows; this should be very helpful.

[Raziki 52]

View the videos on YouTube. It could be helpful

[alliebear 1]

There are hundreds of money management lessons available. It all depends on your trading style and your ability to blow up accounts and recover from them. After watching a few videos, come up with specific questions that can be better answered.

[oxslip 29]

People underrate babypips.com without ever visiting the website. It's jam-packed with useful information.