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Define Your Risk Management System
Abstract：It's a great idea to define your risk management as soon as you start trading on a live account.
Defining your risk management system is one of the most crucial components of growing your account. Without effective risk management, there's a good possibility you'll lose more than you bargained for. Remember that risk is something over which you have complete control, so make sure you handle it well to limit your losses and enhance your earnings.
As soon as you begin trading on a live account, you should determine your risk management strategy. Most traders risk less than 2% of their account balance per deal. If you're just getting started, you might want to start with 1% or less and work your way up from there.
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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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