Some Forex traders believe that if they are patient with a losing trading position, market price will come back to their entry trading level,or maybe even allow them to make a small benefit.
This is a nonsense , you should take a stop on every trading position , so that when you are wrong in a trading strategy the damage can be minimized. I suggest risking less than 5% of the Forex trader's account at any one trade in time.
Try to balanced your risk and reward ratios
Make sure that the profit target on the trade is at least the distance of the stop loss on the position.
Do not using to much leverage
Many professional Forex traders will trade with less than the available leverage numbers in an effort to take the best overall benefit.
When we are trading that is to big, each pip movement in price has that much more of an impact to your trading capital . Many beginner traders hinge their trading results in the Forex market based on emotional reactions. And when the trade size is too big and each pip important to much it only hastens the process by which these Forex trades have to make short term trading decisions.
