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Our research and surveys have confirmed too many new, inexperienced forex traders simply do not know how to manage risk in each trade. All too often, the result is the same: they wipe out their accounts. This is what we find is happening. Forex has grown in popularity so quickly that many traders who are new to forex trading have just waded into the waters, opened an account and have begun putting on trades without any real thought or planning to how to approach trading.
Risk Management: I want to continue the discussion on how to find the right trading method for Forex trading. Previously, I shared (Forex Trading Methods – Finding the right one – part 1 ) that for any Forex trading method to be considered, it must be a complete method Today, I want to add to that by talking about risk management. This is perhaps the area where 95% of Forex traders make mistakes and lose money. Managing risk is about reducing your losses AND about protecting trade capital by employing specific strategies to accomplish each of these simultaneously.
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