How to Find Out If Your Money Management Plan is Working
One of the most overlooked topics in trading, Money Management has the power to make or break you as a trader. It would be fair to say that you could be the best trader on the planet, but if your money management strategies are deficient, you will probably go broke very quickly. Money Management is an essential element of trading discipline that is practiced by all professional traders.
So what is Money Management? Money Management is essential to preserve your trading capital and is simply a set of rules that governs how much money you have at risk. Ask yourself the following questions to determine whether or not your Money Management plan is in good working order: (more…)
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