How to manage your risk efficiently in forex

Nowadays trading the currency market is extremely difficult due to geopolitical instability and large competition. Earlier, traders were few in numbers and they can trade the market with fewer distractions. Now the trading market has become worldwide and almost every country is allowing people to trade in Forex. As a result, the market is bigger than any time in the history and also there are many risks increasing. Due to recent advancement in technology people like you and me can trade the currency pairs just from home. All we need is a computer with an internet connection. But this doesn’t mean that we will make profit 100 percent of the time. We need to learn to manage our risk in an efficient way to place the best trades in favor of the existing trend. (more…)