Yes keep strict with money management and risk management is very important for trader, it will at least making account longer life, margin call occur usually trader greedy in trading with use high risk taker with desired to making huge profit at short time
I think money management is important and besides this, traders should also consider psychological management as well as it contributes 70 - 85 % winning in forex and the rest 15 - 30% contribution came with money management factor.
Majority of traders lack the use of proper money management. So if you want to save yourself from blowing up your account, you will definitely be needing a good money management plan.
NO BLOWOUT RULES:
- LEVERAGE must be in alignment with your CAPITAL.
- Proper trade risk management, meaning don’t go ALL IN with your money because market is chaotic.
Don’t use all the margin in your trades, you won’t blow you account if you do so.
When i was a newbie trader i used to make this type of mistakes in my trades and as a results my trading account will get blown because of it. It was only later that i learned the importance of risk management in my trades.
For any new trader, i suggest keeping the leverage low and should take calculated risks, start with small amounts and it will be good to trade demo account for quite sometime before trading live.
Low leverage safe than high leverage, because it can prevent from greedy in trading, this is one way to safe account, and trade with low risk also will safier than use high risk taker, in forex don’t chasing profit only but also need pay attention with the risk that involved in trading
I always use and suggest Lower trading leverages in my trading as they allow me to trade safely in the Forex markets and with minimum losses 
It will good if we can trade low risk using low leverage, but I think we must also learn how to analyze the trend market with high accurate because as trader will get profit from the trend market, withiut good skill to analyze the market behaviour hence will difficult to making profit although we use low levrerage
When you do trading with plan and limits you had good choice to maintain your amount. certainly do good analysis before trading it will save from unexpected loss . I think smalllots are solution to do trading in limits . in this way you will not use much amount in trading and not blow your account.
I agree. Decent broker and market conditions are a good thing, a great thing even, but even they cannot help you if you don’t know what you’re doing when you trade.
Pretty much sums it up. But then if you only follow these two rules you’d prolong your “blowing up”. I’d add:
- Create a winning strategy and stick to it.
First two protect your capital in days when the third fails.
There is only one way actually, to not get whip out. “Risk management”
You have to use good safety measures in order to not blow your account. You can use a good tight money management system according to your account capital and also you need to trade with stop loss on your every trade you take.
I can say that money management as per your trade may be the reason to blow your account. When ever a person trade must consider money management first so that he can earn profit and do not blow his account.
Margin call occured usually because trader trade against the trend and without stop loss, because they felt over confident in their analysis, and trading with low risk will more secure to maintain account from margin call quickly although we faced some bad analysis
It will happen to us many times when we are not able to do correct trades that we start getting margin calls. If we will have more trading knowledge then such a situation will not arise at all
I never blew up an account, its not necessary to do so to learn. If you are blowing up accounts then you either know little or nothing about proper position sizing or you are lacking discipline to implement that position sizing system.
blowing up an account is not the problem, the point of make and break is what you do after that, if you quit then its the end of it, if you continue then there is still a chance to succeed