This is We Have Options, hosted by me, personal finance expert Dominique Broadway.

I left my career as a financial advisor to the 1% to help the 99% build generational

wealth.

No matter who you are, you have options and I am here to help you turn those options into

dollar signs.

So in this episode, I am going to talk about how to ensure that you don't go broke trading.

This episode is all about risk management and I'm going to be honest.

Risk management is not the sexiest topic.

I get it.

However, it's probably the most important topic and I wish more people would spend time

talking about this topic.

I think that a lot of people lose a lot of money trading and investing that they don't

have to, just because they're not practicing risk management rules or not even setting

their own risk management rules.

So what we're going to do today is talk about risk management, what it means, what rules

I use and how you can start setting your own rules, okay, and also just why it's important

to do so.

So before we jump into all of that, let's talk about like what is risk management.

All right, so I have to pull some dictionary definition for you guys.

So the dictionary definition of risk management when it comes to business is the forecasting

and evaluation of financial risks together with the identification of procedures to avoid

or minimize their impact.

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