4 Tips for Risk Management
Stop losses fear:
Keep in touch with market analysis and an economic calendar to reduce your fear of loss. Make sure you have full control to reduce your losses when you are going to experience a big loss.
Don’t invest all your capital in one trade:
Most of the brokers will provide you big deals to trade with big lot size. Save your capital and make more profitable by starting with small lot sizes. Only trade big when you understand the volatility of the market.
Keep in touch with learning and motivating yourself:
It is very precarious to invest all your capital in one trade to gain more profit. If you experience a big loss then you have no capital to continue trading. Always keep a backup plan for your security.
Trade with correct lot sizes:
Try to understand all the functions of the forex market to reduce the risk factors in your trade. Forex is a highly volatile market so; if you want to gain profit then you must update yourself with the market changes.