Risk management is crucial in CFD trading. Given the effect of leverage, you could lose more than your initial deposit if the market moves significantly against you. It's always wise to use risk management tools available to you, such as stop-loss orders, which automatically close out your trades to prevent further losses if the market moves beyond a certain point.
Understandably, CFD trading opens up a larger financial world. Mastering it begins with education, practice, and a meticulous approach to your strategies. Always seek reliable sources for your learning and consider using demo accounts to gain the experience before you trade with real money.
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