How do you manage risk in forex trading?

[pawan_p]

How do you manage risk in forex trading, including setting stop-loss and take-profit orders?

 

[Ara]

Managing risk is a fundamental part of my forex trading approach. To ensure I don't exceed my comfort level, I establish my risk tolerance for every trade and put stop-loss orders in place. This way, I safeguard my capital from undue exposure.

 

[pawan_p]

Managing risk is a fundamental part of my forex trading approach. To ensure I don't exceed my comfort level, I establish my risk tolerance for every trade and put stop-loss orders in place. This way, I safeguard my capital from undue exposure.

Basically, one of my friends told me about a trading software called PineConnector. It's automated trading software. It has many advanced options. So what did you think about this software? Is it okay to use if you are more of a beginner and less of a mediator?

 

[Ara]

Basically, one of my friends told me about a trading software called PineConnector. It's automated trading software. It has many advanced options. So what did you think about this software? Is it okay to use if you are more of a beginner and less of a mediator?

Thanks for sharing PineConnector! Could you elaborate on its user-friendliness for beginners?

 

[jelousgal]

Use stop-loss and take-profit orders to limit losses and secure profits based on your risk tolerance, that's the name of the game my friend.

 

[ella1H]

trading will always involve emotions, but with enough practise, they may be managed. You may achieve this by having a defined trading strategy because it will train you to be more disciplined over time.
It's crucial to have reasonable expectations for what you can accomplish in this regard. You can read more abot this on this page Without taking enormous risks and a sizable chance of blowing up your money, you cannot obtain a monthly return of 50%. You may keep your emotions in check by setting more manageable goals, like getting a return of, say, 3% every month.

 

[John Keplar_]

How do you manage risk in forex trading, including setting stop-loss and take-profit orders?

I don’t extend my trading lot size and besides so I don’t always use stop loss rather I prefer hedging to save trades from losses.

 

[CallahanSinclair]

How do you manage risk in forex trading, including setting stop-loss and take-profit orders?

Setting stop losses is my primary method of risk management. It is a safe method.

 

[jelousgal]

Setting stop losses is my primary method of risk management. It is a safe method.

I agree with you pal, stop losses is the greatest way to mange your risk and get over greed or overconfidence.

 

[Srtuw44]

I once tried to work like this and my progress only worsened. I don't recommend it to anyone, that's my opinion.