* The usage of Stop Loss/Take Profit/Trailing Stop.
* A good practice of risk management applied whilst trading, includes the use of functionality which limits losses and banks profits.
* Take informed trading decisions by testing the trading conditions. Before opening a live account, you must be aware of the trading conditions provided by the broker and the trading platforms available to you. This can be done by trading on a demo account.
* Test different leverage levels. Upon selecting leverage, be mindful that as leverage increases, so does the risk you are exposed to. Even though a lower leverage requires more funds for placing trades over the market, it will also lower the risk you are facing.
* Choose the appropriate volume. With a higher volume, the pip value increases, thus each market movement can bring you higher profits, but also exposes you to higher losses, than trading with a lower volume.