How Can Be Manage Money
Sep 01 2020
Money management is the make or break skill set that will impact a traderís longevity the most. No matter how technically skilled a trader may be, poor money management can cause all kinds of unforced errors resulting in account blow-ups. Money management entails managing risk and leverage. The leverage part is where the danger is the greatest. Even if a trader has an 80% win rate, poor money management on the 20% can wipe out the account. Whereas a trader with a 60% win rate can still remain very profitable with strong money management skills. Proper money management is always a work in progress that is determined by experience, discipline, prudence, preparation and emotional control. Here are 7 money management tips for day trading.