From this market place so many traders fail despite of having powerful trading strategies, because they have no proper money managing plan. the success in Fx depend on money management , so we the traders who are particularly beginners have to emphasis on money managing plan besides acquiring good trading knowledge.
This is very true. Even if a trader uses a trading strategy which has a low success rate. A good money management plan can make that method profitable. And over time a trader can improve his chances to win and hence proper money management strategies will bring more profit.