Define your money management strategy in your forex trading plan before entering any live trades and you just might be able to avoid this most ubiquitous of trading mistakes and build your forex trading account much faster. The only way YOU can successfully TRADE the market is by pre-defining all aspects of your trading actions, otherwise the MARKET will trade YOU, which means instead of mapping out your plan of action before the battle begins you will be forced to compete with your emotions during the heat of battle, and this almost always results in lost money.