Sound Money Management
Sound Money Management
One of the most difficult qualities of being a successful trader is learning good money management. It’s completely possible – and actually pretty common – to see people turn out to be right on a high percentage of their trades and still lose money. How is that possible? If you don’t use good money management by locking in profits, taking small losses on the picks you’re wrong about, and controlling your use of margin, eventually you’ll lose it all, no matter how good a trader you are.
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