Registered: Nov 2011
01-14-12 08:51 PM
The trading plan must as we all know include money management to keep the loosing streak manageable.
There is one problem though, the mind can play tricks on us, both emotionally and on the ego level. One thing is for sure, letting the mind take control of the so important aspect of manage the trading rules, we are in for a disaster. The rules have to be predefined and set up in advanced so when it comes to the trading session we are prepared and at ease and can pay full attention to do what we are good at, trade!
Leave the management of position sizing, stop levels, exit points to the money management software, nothing we should concentrate on while trading. Most brokers have instrument based money management but not when it comes to the trading account itself.
I recommend, watch the video below, it explain how to protect our trading accounts, how to keep the profit and minimize the loss.
Click here to watch the video