Thread: 
Money Management for New Traders.
Just 4 things:
1. Maintain a fixed percentage of Account Balance for Calculating your lot size. More easier you can open any size of orders if you have for example 1000 pip backup, just like 10 cent per pip for 100$ balance and it is widely used.
2. Risk a fixed percentage of your total balance on each trade. Mostly used is 3%, like 3$ for 100$ account balance. So if you want to setup your trade now for 100$ account balance use 30 pip Stop Loss or Tolerate 30 pip loss per trade.
3. Third is how many Consecutive loss trade you might tolerate on a single trading day. Mostly used 2. It means if you loss 2 consecutive trade just stop your trading for that day.
4. Don�t change your money management system after one or two day of suffering loss.Blindly follow a fixed money management rule for your everyday trading. It will ensure your fund safety and getting consistent profit
Revision: For every 100$ account balance open 0.01 Lot(micro lot), use 30 pip stop loss or close your trade in 30 pip loss and if you loss 2 trade consecutively then don�t open any new trade on that day to recover your 60 pip. Most importantly don�t change your money management rule for that 6$ loss.
�If you use proper Money Management then any Basic, Simple or Advanced strategy will make money��
Thank you
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