Forex.com experts told how to effectively manage risks
The ability to diversify risks is important for every trader. Forex.com experts offer step by step instructions on the most important trading concepts. First of all, the analysts of the company recommend determining your risk tolerance. It makes sense for beginners to set minimum percentage levels (1-2% of the total account value).
The next rule is to set up the contracts correctly. The standard lot for currency trading is 100,000 units, which corresponds to $ 10 per pip for the EUR/USD. It is important to use a stop loss for every deal.
In order not to miss a potentially successful deal, you need to be willing to work actively. The best option is daily trading for at least 4-8 hours. Alternatively, you can buy a robot for automated trading. You can also set trailing stop orders, within which the trade will be closed in adverse conditions.
Do you want to know more about trading with this broker? Read the Forex.com expert review on our portal.