Risk management is the foundation of the Forex market. So in order to trade in the Forex market, you need to have a piece of good knowledge about risk management. Any trading strategy, regardless of how profitable, is subject to money management. In fact, its profitability comes from proper Forex risk management. Think of it for a sec. Any trade features a stop loss. And, a take profit. As such, even without knowing, traders apply some kind of risk management for dummies on any trade. However, managing risk is an art. If you would like, there’s a fragile balance between managing Forex risks and traders’ emotions. A trading account’s enemy is that the trader itself. Because emotions rule our trading decisions, we discover it difficult to manage the trading account. Therefore, to manage risk, one must learn to manage emotions. Or, to understand yourself as an individual and a trader, before anything.