True. But that is understood. After all if the system is flawed risk management is not going to save the trader. The trader has to be able to make profits first and foremost, if he can't do that all the risk management in the world won't help him.
Perfect. A good understanding of how the market operates is key. So is a mentor who knows what they're doing. That will take you over the hump.
Quote from jdeezero05: but no money management system can make a system with negative expectation a winner. +1. But so many are convinced to the contrary The reality is at the sum most simply are not trading a system with positive expectation after transaction costs. +1 also
Sadly, for most, a real mentor is very hard to find, as they are nearly all just interested in taking money from people:eek: The Expert, on the other hand, is, "The only coach/trainer that does not charge a fee" TE
================ Thats part of it Afto; another big part of it, is simply running a trading business-is amoung the hardest of all businesses[long term, not just a few years] Younger they are the more they use leverage/fail. Have run businesses most all my 55year old life. I just reread part of Jack Schwagers old top trading book; Stanley D, noted for his saying ''it takes courage to be a pig'' & wrote Citibank making international loans ''like crazy'' , so he was bearish from decades ago..... So there is a balance between that ''courage to be a pig''; and LEH BSO, MER/ banks belly up/ bankrupt.