Embrace the risks associated with trading

Instructions

Accept the risk.
Acknowledge that success in trading is not guaranteed and that one must be prepared to accept the potential losses that come with it.
Identify the risks.
Consider the environment, people involved, and potential outcomes when making decisions to identify the risks associated with them.
Assess the risks.
Evaluate the likelihood of the risks occurring and the potential impact of the risks.
Control the risks.
Implement strategies to reduce the likelihood of the risks occurring and to minimize the impact of the risks.
Monitor the risks.
Regularly assess the effectiveness of the risk management strategies and take corrective action if necessary.
Understand the concept of accepting the risk.
Accept the consequences of one's trades without fear or emotional discomfort.