How to Minimize Risk in Forex Trading?

[Suba]

A successful forex trader relies not only on analytical skills and emotional control but also on mastering how to minimize risk in every trade. Therefore, traders need to determine a realistic and healthy risk-reward ratio for each trade and immediately take profits or close positions when the price reaches the desired point before the price reverses.
Use stop-loss orders to limit further losses.
Set lot sizes and adjust them to your capital.
Periodically evaluate your trading performance and adjust your strategy if necessary.

 

[Augusta]

Use stops and limits.
Manage your emotions.
Keep an eye on news and events.