Risk management is often one of the areas that rookie traders tend to overlook which is why 95% of traders fail.
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A trader knows that it doesn’t matter if he need to fit the bill for a jackpot because in the long run he has a statistical edge.
Trade risking only a small portion of your total equity and look for higher risk-reward propositions.
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To help you to improve your risk management use the ActivTrades SMARTCALCULATOR.
A great tool which will help you to quickly identify risk and reward of a potential trade. Simulate different trade scenarios by changing the leverage, or one of the Trade Info elements to understand your potential profit and loss, margin requirements, swaps and more. Look up the pip value and the risk/reward ratio, both crucial components of any risk management strategy.