Risk Management Strategies

[tonosama]

We all know that trading involves risks, but how can traders protect themselves?
What are some practical ways to manage risk and avoid big losses?
Have you ever experienced a situation where risk management could have saved you from a bad trade?
I used to loss so much in XAUUSD, how can you get profit, I used hedging but useless.

 

[corrupt303]

Always have a stoploss, always!
You can incorporate EA's to prevent a certain percentage of loss.
I try only trade in the Asian market as there is less volatility