Effective risk management is essential in trading. Here are some strategies to help you manage risk effectively. 

Utilize Stop Loss and Take Profit Orders: Setting Stop Loss and Take Profit levels is a straightforward way to manage your risk. A Stop Loss automatically closes your trade if the price moves against you by a specified amount, while a Take Profit secures your profits when your target price is reached. In TradingView, you can set these orders at the same time you place a trade or modify existing orders by right clicking on them in the “Positions” tab and selecting “Protect Position”. 

Limit Your Trade Size: Larger positions can increase your exposure, making it vital to control the size of each trade. Use the position sizing tool within the Trading Panel to set a lot size that aligns with your risk management strategy. Many traders adhere to the 1-2% rule, risking only 1-2% of their trading capital on any single trade. This approach helps safeguard your account in the long term. 

By implementing these risk management techniques, you can navigate the volatility of the markets more effectively on TradingView. 

Now, let's explore how to manage margin effectively.