Besides depending on the Forex dealer, a stop loss come very handful if you wish to limit your risks. Always trade Forex with a stop loss order as it will assure you to exit market in a price that you can handle the losses. As an example, if you purchase 100k of EUR / USD at 1. 2050 expecting the EUR / USD to rise in value, and your stop is placed at 1. 2020, you are guaranteed to be filled at your price ( except in very volatile market. )
To leverage or not?
One way to manage your risks well in Forex market is to trade without overleveraged. Forex dealers want you to trade with high leverage values as this means more spread income for them. Also, trading in high leverage may increase your profit or your losing. There are high possibilities that one lose money more than he or she can afford in margin trading.
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