There is risk everywhere. However, in order to protect against risk in trading, a risk management strategy must be learned like the use of stop-loss to limit your losses.
The biggest differentiation between “market risk” and “trader risk” is how they can be controlled. Market risk is uncontrollable – I am at the mercy of the markets. Trader risk is controllable, as I can react to the market however I choose.
i have seen sometimes after having risk management the result of trading be useless , actually there is nothing 100% in Forex trading.
You're right, our emotions and actions should be in control and according to the understanding of market only that shall help to us to perform mindfully.
Understanding risk and how to tackle it becomes an art in this market after a point. Not everyone is smart enough to time their trades properly or follow a plan towards generating profit. By applying the correct risk control techniques at the right time, traders can definitely win. For this, understanding market sentiment and psychology is most important.
Yes I agree, risk management is very important but having an logical mindset to set some boundaries for limiting losses is also very crucial as it will always keep oneself safe from unnecessary risks.
Do you have a live trading journal to prove your psychological concepts about unnecessary risks? Can you show us how you have conquered this problem with risk, and how you have limited your losses in live money trading? Please, we await your proof of success in trading.