Money Management
You will learn about the following concepts
- Risk concepts
- Types of stops
- Scaling in and out of trades
- Leverage
- Correlation within the Forex market
- Trading journals
Welcome to the third chapter of Trading Pedia Forex Academy, which expands your trading knowledge by emphasising vital risk and money management subjects. In the following articles, we have collected the most important money management topics that a trader should be aware of. Many of them are used daily by investors.
Proper Forex risk management is key to success in Forex trading. Learning how to manage your risk can make or break your trading career. While risk management is not overly complicated, there are some core ideas which, when followed strictly, can mitigate excessive risk in your trades and leave you feeling safer and more confident. Risk management can be the difference between your survival and the sudden wipe-out of your account in Forex trading. You can have the best trading system in the world and still fail without proper risk management.
You are welcome to start with this chapter, which will guide you through the set of articles. Let’s continue our journey towards becoming successful traders!