What is your risk management plan?

[Jeremy_trader]

I am using stop loss and take profit levels. I think it best way to control risks in trading. How do you think about this?

 

[alaska27]

Stop loss and take profit - both are really good tools that help to manage risks. However, you need to set the risk limit, for me it's equal to 1-2% of the deposit sum.

 

[Rizog]

Let's face the truth – there's no ideal way of managing risks suitable for everyone. Every trader needs to find his own way of doing it, relying on the general and theoretical knowledge.

 

[Addam]

Everyone has their own tactics of risk management. The main thing, though, is that the risks should be lessened, otherwise it'll be difficult to avoid great losses.

 

[Jeremy_trader]

Stop loss and take profit - both are really good tools that help to manage risks. However, you need to set the risk limit, for me it's equal to 1-2% of the deposit sum.

I think 1-2 is not enough for stop loss and take profit

 

[Naxramos]

Jeremy_trader, yes, if you trade using one asset and have one deal a day. But I work with a number of assets, so I have less risks in every deal.

 

[Anthony23]

Planning and risk management is essential for Forex trading. You have to build a management plan for your trades with good risk to reward ratio according to the capital amount in your account. You need to spend only 2% of capital money on each trade and never trade with huge volumes as well.

 

[Qasim waqar]

Investment is very risky and everyone's aim is to save their capital and generates maximum profit but for this money management is the key success to gain maximum profit from risky Forex market

 

[Morning1234]

My plan is not to keep a lot of money in a trading account. I can't lose more than I have in a trading account. And that's risk management.

 

[Herpas]

My plan is not to keep a lot of money in a trading account. I can't lose more than I have in a trading account. And that's risk management.

I fully agree with you. If you don't have too much money on your account, the best option for you is risk control. It's even safer than any stoploss!