Money management is very much essential for all types of traders, whether a new one or an expert traders, but beginners should focus more on money management, because if they loose from initial days that will bring high frustration and force them to stay away from this great earning opportunity market.
So always trade with low open quantity so that you will never face any kind of panic situation even market goes high volatile, always do some part profit booking or use stop loss to limit your loss, and withdraw part of your profit to enjoy.