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Successful Forex trading is not about luck, it is based on informed research and meticulous analysis.
Currency trading can be very lucrative or very risky depending on how knowledgeable and disciplined the trader is.
Trading in any leveraged and volatile instrument can be potentially a risky business. That is why risk management is so important for trading currency successfully. You simply cannot afford not to use it. Jump-into-the-water-first-and-learn-to-swim-after approach will likely not work very well in the world of forex trading, as the possibility of losing your pants can become a painful reality in no time.
Trying to learn from someone else’s mistakes is always more preferable than learning on your own.
Learn how to manage the risks of currency trading.
“…There is one major difference that separates the best traders from the rest. It is also a critical difference.”
“…So, how much funds can a trader afford to lose on any single trade?”
“…Profit/loss – or in other words, reward/risk ratio – is an essential part of any risk management system.”
“…I bet you have heard numerous times that the risk should be equal to the returns. Sounds like a rudimentary thing. Is it not something obvious? But what does it actually mean?”
“…Hedgers want to reduce their currency fluctuations exposure, and are willing to pay for this. Speculators are willing to accept these risks in a hope to cash in.”
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