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How do I manage risk when trading Forex?

There are a variety of risk management strategies that forex traders can use. The most common form of risk management is the use of stop loss and limit orders. Stop loss orders can be set within the MetaTrader 4 platform and are often used force the closure of a position at a predetermined price in order to limit any potential loss. Limit order work in much the same way as Stop loss orders however they allow a restriction to be placed on the maximum price paid.