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Risk management is done before we open any position. After we do analysis then that's the time we do risk management. Base on the data we get from our analysis. In risk management we can understand the best scenario for our trade. That's why its called risk management. Balancing between opportunity to make profit with loses.Very effective if we know how to use them effectively while trading, as it control loss from the Risky Market. We need to learn and practise well about this, because it affects our profit.
yeah. we need it for trade. we can control our money and keep money in our account. when we has money we can make profit.