Risk management in trading is indispensible, if you want to succeed in the binary options market. If you do not have a proper risk management plan you may not be able to achieve success in this volatile market. As a trader you need to understand that it is not easy to make consistent profits in this market. There are inherent risks associated with this market and if you are not careful you may lose big money and all your investments within a few trades. Managing risks in binary options trading Irrespective of whether you are a beginner or experienced trader, you need to have a proper plan for every trade. A well made plan can enable you to take your first step into successful trading. After you have made a good trading plan it is important that you stick with it. If you keep making changes to the plan at regular intervals, you may not be able to benefit from it. Placing emotional and impulsive trades can also result in big losses. When you let emotions cloud yo