Practice sound money management techniques from "summary" of Profiting With Forex by John Jagerson,S. Wade Hansen
Sound money management techniques are essential for success in the forex market. This means effectively managing your capital to minimize risk and maximize profits. One key aspect of sound money management is setting realistic goals and sticking to them. This involves determining how much you are willing to risk on each trade and setting a stop-loss level to limit potential losses.
Another important aspect of sound money management is diversification. By spreading your capital across multiple trades, you can reduce the impact of a single losing trade on your overall portfolio. This can help protect your capital and ensure that you have the opportunity to profit from successful trades.
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