Date: 14 Oct 2009 Comments: 0

FX is a vibrant business. Money is made overnight, but you can lose it just as fast. More often than not it looks like the pips are intelligent. And they work not exactly for you. That’s why you must take care of your money. Money management is an important element of trading, Forex is not unique at that. To illustrate the meaning, consider that even autopilot trading softwares use money management instruments; I’m talking about Pips Miner. Application creators are professional traders, so it’s safe to say they know how important managing money is. It’s a great idea to model your trading after them.