[firstbrain]

@ DugDug:
I don't think that experimenting is not the right way to learn MM. Read some books and then apply PROPER MM to your trading. AND: you still first have teo develop a winning strategy!! That's more important than experimenting with MM. There where bright brains that already discovered how to do it right, why to waste time on it?
I don't think one has to be convinced to use proper MM, the math behind stands for itself. If u don't use it you lose. BIG. Again there is a difference between earning 70.000 and more than 600.000 with the IDENTICAL trades, isn't it?

That's what I learned in my 26 years of trading; it's my personal opinion and experience. Take it or leave it, but don't take it personal DugDug, ok?

[enochbenjamin]

Something I got from MyPivots.com

[DugDug]

Hi firstbrain - I dont take it personally - this is the internet
However while you are correct in that a lot of people already have proven certain things, there is no substitute to take a little bit of time (not copious amounts) and really understand it and have something to show you/remind you how the little differences can make a big impact.
While you say people dont need to be convinced to use proper money management you also then remind us that in your opinion 98% traders dont use it - I would argue that the reason many people throw out or forget their money management principles (and many other trading principles) is precisely that while they may know about MM, they are not convinced and they dont truly understand it. Hence the exercise.

(my first post was to point out that you need a strategy first)

[amanda1]

Well, money management is a really important skill as we deal with money every day of our life and it's sometimes rather difficult to avoid troubles due to its mismanagement. Every person should be really careful with his personal finances in order to plan the budget with no troubles.

[max8ion]

To the very first post, i think books are helpful but not in the beginning of the activity, in the beginning there will always be some period for trials and mistakes which you have to go through, if you don't face such problems then you are probablyreallyyyyy lucky, so there is no only one definite way to learn MM((