Stop-Loss and Take-Profit: Essential Tools for Forex Risk Management
Forex trading is supposed to be a gateway to quick profits and financial freedom. The fact that one can buy and sell currencies, capitalizing on small price movements, appeals to many traders, both novice and experienced alike. The potential profitability in forex trading is very high, but the potential risk of losing money is also very high if risk management strategies are ignored. Traders often try to seek profit but fail to equally consider how to protect their capital. This often ends in devastating losses; oftentimes losses that would not have occurred if they had a proper risk management strategy in place. This is why stop-loss and take-profit orders are very important in a trader’s toolkit..............…Read More