Losses are a part of trading forex. We must understand that and accept that so we don't get disappointed but if we learn to control losses and money management we will not lose that much. losing 10 pips is better than 100 pips and that is my opinion so I always use stop loss to make sure I don't lose that much. We also will always have market turning against us so its wise to take profit when we can.
No matter what, loss will always be there in forex trading because this market is bound to loss and that is why we must work hard just to ensure that we eradicate part of the loss because we can never get rid of such loss but to minimize it.
That’s right. All we can do is use effective risk management to minimise our losses otherwise there will always be some risk with investments. Like I recently lowered my leverage on a trade or it would have ruined my profits. For brokers I used Etoro since the commissions and spreads are low and that saves some of my money.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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