Trade Management

FX:EURUSD   Euro / U.S. Dollar
Last nights price action is a perfect example of the importance of correct risk management. All 3 entries taken last night ran to roughly 3% and then reversed.

Due to correct risk management all 3 of these trades resulted in Break even results instead of full losses.

Finishing the night at break even instead of -3% is not a huge difference $ wise but also a massive difference mentally.

By closing 0.25% of your position at 3% profit you are essentially Break evening your trading while still leaving your stop open and 75% of the position still running.
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