My Risk Management Checklist For Forex Traders
1. Am I Actually Ready To Trade?
2. Do I Understand Risk Management?
3. Is My Mindset Correct?
4. Am I Trading With Funds I Can Afford To Lose?
5. Can I Give A Clear Reason For Taking This Trade?
6. Do I Have A Conflicting Open Position?
7. Have I Checked Currency Pair Correlation?
8. Have I Setup A Stop Loss & Take Profit Level?
9. Have I Used The Appropriate Amount Of Leverage?
10. Am I Committed To Letting This Trade Go?
So there you have it; my Risk Management Checklist for Forex traders.
I hope you’ve found this article useful. If you have, I encourage you to bookmark it or print it out ahead of placing your next trade.