Money management for Newbie Trader

The Way to not waste money in your first experience forex trading:

1. Start with pair that has little spread (2 suggested).
2. Start with pair that has little volatility beside wild volatility, and I suggest you not to try GBP-JPY for your first trading.
3. Keep your fundamental knowledge analysis instead of technical analysis at 1st.
4. Get in to the market in the right moment (don’t try to fight trend).
5. Use in-and-out method (out when you get 2-4 pips).
6. Get warming up with minimum 30 minutes with your demo account to learn how market running in the moment.
7. Stabilize your psychological environment before you get in to the market.
8. Use only 1 open position every time you enter the market. Only open 1 another just for averaging (1 new position that reverse with your first open position).
9. Much better you use at least one another platform with demo account as a backup of your real account at the same time. If you’re not confidence with your decision to open your position, you can try to your backup platform at first.
10. Withdraw your profit as soon as you reach minimum withdrawal. Don't wait till you lost your profit money.
11. Discipline.