The forex market is a risky market, and only those who are willing to take risks should consider trading in it. Others, on the other hand, should not even consider it. Volatility, market conditions, the global economic environment, economic conditions, political conditions, counterparty risks, leverage, and other factors all contribute to market risks. Risk management can assist a trader in controlling market risks, but only if the trader understands how to use it properly and is well-versed in trading and risk management. A trader must be able to control their emotions in addition to risk management. Otherwise, a trader has no chance of making a profit.