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I have seen some of the most talented and knowledgeable traders completely blow their accounts up as well as their lives. It ALL starts with 1 trade. Then the spiral happens. I have seen it over and over again. Hell-I have done it myself. Traders who have made millions and lost
every nickel of it. I mean MILLIONS!! 1 trade starts that downward spiral. Then they leave their lane and then nobody can talk to em. FYI some have made it back, most haven’t. Find a process that works for other traders and for you. That doesn’t expose you to too much risk
And that shows you how to execute and manage your positions so you not only preserve your capital but provides you with maximum profit potential as well. Execution is everything in trading. Position management is key! It’s not talked enough about and not taught enough.
Without proper position management we are lost. We are no different then most retail traders out here. Most of us won’t be here in a year, let alone 5 yrs. you will have a much better chance at a highly successful career trading if you learn to manage your positions.
Minimize risk, Maximize profit- Capital preservation everyday all day. The second you lose sight of that is the second we expose ourselves to blowing up. The road to success trading is not always sexy. It is a grind! Embrace it. Be here tomorrow! That’s the job. Be here tomorrow
