Advanced Training: Money Management

Can a money management strategy really be more important to your trades than a trade entry strategy? Managing your money in the trading world is first done with starting a trading plan. You’ll also have to manage your risk in your trade. An important factor is determining where you’ll put your Stop loss.

Key Takeaways:

  • Money management strategy is far more important to your success as a trader than is trade entry strategy.
  • No seasoned business person would even consider starting a business without a business plan.
  • Your trading should be treated as a business and should start with a good solid business plan.

“A large portion of managing your money as a trader is to manage your risk in your trades”