Forex being a highly volatile market involves large risk of losing money, you should take certain precautions while trading in order to guard your capital.
1. Always have an adequate stop loss in place
2. Don't trade when the market is uncertain
3. Use margin to protect your trade from going under due to a lack of margin.

It is very important to be careful and in case you can see that the market seems somewhat during a troubled period, you try to keep away from trading at the time. Volatility needs to be taken seriously. And when trading ir is important to set a stop loss in my opinion as you are at least safeguarding yourself against high losses which you cannot handle.

In very simple words capital management is the only way you can protect your capital even being profitable. the calculation is so easy! even you can calculate the odds of thee flipping a coin and multiplying to the RR 5:1! do it 100 times and you'll see the results! unbelievable.

Capital is a resource that we only have so much of and it cannot be replaced. When thinking about how to protect your capital here are a few ways:

1) Don't invest in risky assets;
2) keep expectations low;
3) diversify your portfolio;
4) save for retirement; and
5) avoid credit cards.

Risk causes you to lose money and take more risks than you should. Once you get into the habit of taking sensible risks, then start saving for retirement.