Understanding Risk Management

Understanding risk management is a very important reality when trading the
Forex Markets. Losing trades will happen, and managing those losses are the
key to success.
A good rule of thumb when setting your stop losses is the 5-7%
rule. If your trading account is at $2000, then set your stop loss so that you don’t
lose more than 5-7% of the total value of your account.
If you used this rule in this case, you would stop out a losing trade when you were down $100-$140.

This is important, because if you don’t manage your losses well, you can easily
lose 50% of your trading account on 1 bad trade.
You do that a couple of times and you will lose all of your risk capital. It is better to take smaller losses and try to maximize your winning trades. So be careful and deliberate when setting your stops on your trading platform.

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