How do you manage risk when trading forex?
I've been trading forex for a while now but I am still battling with risk management as I always find myself angry after every losing trade and I always feel I didn't manage my risk well.
So, I would like to ask the house: what risk management strategies do you guys use and if my broker is the problem what broker do you use that provides good risk management tools?
To manage risk I always use a stop loss in calm markets and a trailing stop loss in fast paced markets (aka volatile markets).
During volatile markets, I remove any excess money from my trading account and leave just the amount needed for a trade because sometimes stop looses can fail to trigger at the right price.
I also make sure I have the brokers mobile app on standby because sometimes your MetaTrader desktop can freeze and lock you out of the trade and when that happens you can continue monitoring the trade from the mobile app.