Money management is a critical component of success in Forex trading. It involves implementing strategies to preserve capital and minimize risk, such as using stop-loss orders and limiting leverage. The 15:30 rule suggests never risking more than 1.5% of your account on a single trade and never having more than 3 trades open at once. Following sound money management practices can help traders navigate the ups and downs of the Forex market and achieve long-term success.
