You will learn about the following concepts
- Risk concepts
- Types of stops
- Scaling in and out of trades
- Correlation within the Forex market
- Trading journals
Welcome to the third chapter of Binary Tribunes Forex Academy which expands your trading knowledge by emphasizing on vital risk and money management subjects. In the following articles we have collected the most important topics in money management that a trader should be aware of, some of them are used on a daily basis by investors.
Proper Forex risk management is a key to success in Forex trading. Learning how to manage your risk can make or break your trading career. While risk management is not very complicated, there are some core ideas that when followed strictly could alleviate extensive risk from your trades and let you feel safer and more confident. Risk management could be the difference between your survival or sudden wipe of your account in Forex trading. You can have the best trading system in the world and still fail without proper risk management.
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You are welcome to start with this chapter which would guide you through the set of articles. Let’s continue our journey of becoming a successful trader!