Calculate profit, loss, and pip values for forex trading. Professional calculator with accurate calculations for all major, minor, and exotic currency pairs.
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Essential risk management strategies for successful forex trading
Proper position sizing is critical to long-term survival in forex trading. Never risk more than you can afford to lose.
Example Position Sizing:
Account: $5,000 | Risk: 1% = $50
Stop Loss: 50 pips | Lot Size: 0.1 mini lots
If stopped out: Only $50 loss (1% of account)
Always use stop-loss orders to limit potential losses. Never trade without protection.
Common Mistakes:
❌ Moving stop loss further away
❌ Not using stops at all
❌ Stop too close (getting stopped out)
✅ Set stop and leave it
High leverage is the #1 reason most retail traders fail. Use conservatively or avoid completely.
Reality Check:
With 1:500 leverage, a 0.2% adverse move = 100% account loss
With 1:20 leverage, same move = 4% account loss
Emotional control is just as important as technical analysis. Stay disciplined and stick to your plan.
Success Habits:
✓ Follow your trading plan
✓ Accept losses as part of trading
✓ Take breaks after big wins/losses
✓ Keep a trading journal
Master the fundamentals of forex trading and currency markets
A pip (percentage in point) is the smallest price move in forex. For most pairs, 1 pip = 0.0001. For JPY pairs, 1 pip = 0.01.
Lot size determines your position size and risk exposure. Choose based on your account size and risk tolerance.
Leverage amplifies both gains and losses. Higher leverage = higher risk. Use conservatively.
Most actively traded forex pairs across different categories