Every business activity involves risk. Trading foreign currencies is no exception. However, you can minimise risk through diversification and money management.
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I think I must take risks to make money. But I have to manage the risk positively and it is possible to control the risk by working with the plan.In forex trading risk increases with the increase in the profit. It is important that you understand the risks that are involved and make decisions accordingly. There will always be a risk of losing but by using certain tools and techniques one can cut off the heavy losses.
Yes you are right. Some can afford to lose 100$, but there people who can afford more to lose. It also depends on your trading skills and experience.I feel the trader only fears when he has risked more than he could even afford.
Yes, it depends on many factors. Especially it depends on one's ability to understand things and his level of dedication for learning.Yes you are right. Some can afford to lose 100$, but there people who can afford more to lose. It also depends on your trading skills and experience.
Learning is a continuous process. It doesn't stop. To stay competitive in the market, trader must keep updating himself with the latest information and techniques.Yes, it depends on many factors. Especially it depends on one's ability to understand things and his level of dedication for learning.
Exactly, and besides using risk management tools and strategies, I would also advise traders, especially beginners to trade on a micro account with a smaller lot size. Do this for a few weeks or maybe months and then, switch to a standard trading account.Forex is highly volatile and indeed a risky market. One must use risk management tools and strategies to reduce the risk rates.