Manage your risk
Manage your risk
When you don’t have your risk under control at every trade, you simply open the door for the friendly but emotionals neighbours to come in and dominate in your house.
We promise it’s hard when you start trading at the Forex market.
Because it is an emotional market. It’s hard to stop trading emotionally once you’ve started or even admit you’re trading emotionally.
The game is about how much you lose or better said how you minimize your losses.
Not about your winnings. We all have that gambling friend that always talks about his big winnings.
He never tells you about the day he lost $1000 on one hand of Black Jack does he?
A good example that shows you how important it is to minimize your losses.
You don’t want to lose that $1000 you’ve won with 100 hands on one hand do you?
So set your losing limit before you trade.
This has to be an amount that your completely OK with losing.
If you lose it’s just another day at the office.
Why Risk Management is so important:
Risk management is vital for success, safety and sustainability in Forex trading.
Risk management won’t let you lose more on a trade than your comfortable with.
Even if you are one of the best traders or you have this unique talent to see the right spot to step in a trade.
Without good risk management you will never be a successfull trader on the long term.
Basic knowledge is to always go for more PIPS as your willing to lose.
Want to know more about trading in forex / forex mistakes or do you want to join the forex group?
The forex group is mainly English!
Please contact me so that I can explain you much more about what we have to offer.
And all your questions can be verbs.