Please take a look around, and feel free to .
I know, you can learn and then practice and then practice some more and as soon as you open 1000 trades, your trades after that might be very strong. In forex, experiences is the best teacher. You will lose less as you move on but do take advantage of the demo as losing with fake money is so much better than losing with real money. You should not practice with real money. Try to open as many trades as you can in a demo and then you will surely gain profit. Also do long term trades as well to see how you will do.
Sure, the stop loss strategy is the most effective way to reduce losses. It is the traders safe tool when it comes to applying a risk limit. We also should endeavour to choose a lot size that is within the limits of our capital. Matching high lot sizes with low capital is a quick way to lose big.The only practical option available to reduce loss is the stop loss facility. Even though professionals suggest keeping the emotions away, it is practically not that easy for a beginner to follow. A lot of hands on trading experience and determination can only lead a trader to a professional level where emotions are set aside easily. Till then, it is always better to depend on stop loss facility to reduce loss.
There are many aspects to reduce loss at forex trading. Everybody should learn risk management and money management. Starting with basic things and low orders are the best idea to gain much experience.
first of all thanks for your suggestion but still i want know from you that for reducing loss in forex we need to learn risk management and money management at starting but if i want to learn in online then which site i have to visit for the same...
Well, it is no longer news that the use of the SL is a veritable tool to prevent huge losses but where the problem is is in the placement. everyone would want to use this but not all knows how to implement it. It is just a cool thing that exists in the market and just as you have stated, it is only if you understand it that you can.Risk and money management can be gotten from so many sites on the internet but if you can get files to download, you can always have a copy of it. It is in most cases, not a theory thing, you just have to implement them and you can do this with a demo account. It is about the right use of capital to lot sizes, setting the stop loss or take profit, etc. You can still try babypips.com or blogs through Google blog search. I into one someday but can't remember the site name.
I think you should do the following:
Don't open too many orders.
Don't be emotional to close profitable trades and leave unprofitable ones thinking it will reverse to your favour.
What is your opinion?