It is important to understand that even the best forex traders have losses. While you may succeed in the Forex Market, you will also have some losses. Fortunately, there are several things you can do to anticipate risk.
1. Protect Positions with Stop Loss and Limit Order
There are several types of orders, such as trailing stops and Order Cancellation, designed to help traders manage risk and protect potential profits.
2. Adjust levels
Limits should always be set after a thorough analysis of the currency pair you are trading, they should be adjusted according to a technical analysis based on Resistances and Holders.
It is important for a trader to always remain calm and objective, as emotions can lead a trader to ruin altogether. Patience is a fundamental key to success in this type of market.
4. Transaction Planning
It is very important before placing a position in the market to make good trade planning. Doing a Technical Analysis, following the news and being psychologically prepared for any eventuality.