How to control the lose , as a newbie?

<p id="isPasted">The first thing you need to do is learn about certain aspects of forex trading. You are wrong if you think forex traders have it easy. To gain knowledge, nothing beats live trading sessions, but in order not to lose money fast, you need to understand the forex markets, economic factors that drive currencies, and geographical-political factors that influence currencies.</p><p>Every trader makes mistakes. Traders, however, face big problems when they make mistakes repeatedly. Therefore, they should avoid making mistakes. Trading actions should be done accurately in order to avoid a big loss.</p><p>To make profits, newcomers need to set the right goals. You must set an achievable goal if you want to achieve the right results. Impractical goals are set by many traders. As a result, they are unable to reach their goals. It is better to start trading with a small account and learn the basics first. Don't try to shortcut the process because it will never work. Therefore, you should set a long-term goal that will help you succeed in the market.</p><p>In the Forex market, you can make huge profits if you act smartly. To earn money, you must manage profitable deals. For this, you have to maintain discipline. If you fail to keep the discipline, you can't handle the situation.</p>

<p>Forex is a very flexible market, so if you can act smartly, you can make huge profits. To earn money, you must manage profitable deals. You must maintain discipline in order to accomplish this. You can't handle a situation if you don't maintain discipline. Maintaining discipline is key to making the right decisions. Unless you do so, you will make mistakes and fail to achieve your goal. Your discipline will help you to succeed in the market. However, you cannot avoid the loss forever. &nbsp;But you will get the chance to regain your money. So, you should wait for the right time to act so that you can recover your losses.</p>

<p id="isPasted">Knowing your limits is crucial to your future success. Ensure that you set your leverage ratio in accordance with your needs, and never risk more than you can afford to lose on each trade.&nbsp;</p><p>It is inevitable that traders will lose money, but if you maintain a positive edge, you have a better chance of winning. Making a trading plan and educating yourself is good, but sticking to that plan with patience and discipline is the real challenge.&nbsp;</p>

<p id="isPasted">Forex trading can be a complex and risky endeavor, and it's important to take steps to manage your risk and control your losses as a new trader. Here are a few things you can do to help control your losses:</p><ol><li>Develop a trading plan: Before you begin trading, it's important to have a plan in place that outlines your goals, risk tolerance, and trading strategies. Having a plan will help you make more informed and disciplined decisions when trading.</li><li>Use stop-loss orders: A stop-loss order is an order that automatically exits a trade at a certain price, which helps to limit your potential losses. For example, if you enter a trade with a stop-loss order at 1% below your purchase price, your trade will automatically be exited if the price drops 1% below your purchase price.</li><li>Manage your risk-reward ratio: In forex trading, the risk-reward ratio refers to the amount of money you are willing to risk in relation to the amount of money you hope to gain. A general guideline is to aim for a risk-reward ratio of at least 1:2, which means that for every dollar you risk, you hope to gain two dollars.</li><li>Keep your leverage low: Leverage refers to the amount of capital you can control with a small amount of your own capital. While leverage can increase your potential profits, it can also increase your potential losses. As a new trader, it is recommended to keep your leverage low, at least in the beginning.</li><li>Diversify your portfolio: Diversification is the practice of spreading your trades across different currencies, and/or different trading strategies to reduce the overall risk of your portfolio. It's important to not put all your eggs in one basket.</li><li>Learn and practice before you trade: Before you start trading with real money, it is important to learn as much as possible about forex trading and to practice with a demo account before you start trading with real money. This will help you gain a better understanding of how the market works and help you develop your trading strategies in a risk-free environment.</li></ol>

<p id="isPasted">The main reason for the losses are :</p><ul><li>No Trading Plan or Strategy</li><li>No Risk Management i.e using High Leverage or no proper use of Lot Size, Stop Loss, etc</li><li>Undermining Money Management</li><li>Not Fixing the Stop Loss and Take Profit</li><li>Letting Losses Compound</li><li>Setting the Wrong Goals</li><li>Overtrading i.e. trading too many positions at a time</li><li>Being Unaware of the News and Data Events</li></ul><p><br></p><p>When these points are rectified losses can be controlled.</p>