Understand what position sizing is and use it. Stop loss is not your only tool for reducing risk. By adjusting your position size you can use it to hit a sensible stop loss distance too. Take some time to find out the differences between stop loss and position sizing.
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If you are new to forex, begin by concentrating on a single currency pair then expand as your skills enhance. When you initially get in the world of currency trading, expert traders suggests that the best method to practice and tone your trading skills is to trade just the most liquid and extensively traded currency pairs, initially.
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