Money management in trading!
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Most forgotten but most important part in trading is money management. Most of us think risk management is money management. Profitable and successful traders are very good in money management. Have you seen any business man, start a business with out proper money management. I wonder why people enter in to trading field with out any plan particularly money management. Money management tells how much risk we can take per trade, how many shares we can buy and when to book partial profit. It saves a trader when the trade goes against the plan. It helps to follow trading plan with more discipline. Like trading psychology, money management has forgotten by many of us, but with out these we can not succeed in trading.
Note : Learning basics about trading is a stepping stone, but to earn money in trading, one should master technical analysis/charting.
Note : Learning basics about trading is a stepping stone, but to earn money in trading, one should master technical analysis/charting.
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