There is a secret that all experienced expert successful traders do and the novice does not. There is one thing that connects every single successful trader who makes it in this business in the long run.
Is the Secret being a contrarian?
Finding the trade where everyone has already priced in and gone one way and going the other is advantageous, it may often pay to be a contrarian, but not when it comes to this. How on earth can this "secret" be a requirement be in a world where being the "contrarian" is so often right?
Because this secret dictates what happens between the successful trades and prevents those who "go the other way" from being wiped out.
If you haven't guessed it by now, the answer to this secret is Money Management.
I know, so much excitement and build up for what seems so boring to so many novices. But I guarantee you, if you don't get this down pat when you start it won't matter if you can hit a 100% return or even if you can hit MANY of them. If you manage your money poorly, the other more experienced traders out there end up managing you.
It seems so simple, but it actually can be improved by EVERYTHING that you do.
Trading is not about THIS trade or even THE NEXT TRADE....
It is about NEVER having a "risk of going broke" and ALWAYS about your entire career of trades.
ESPECIALLY if you are starting out with "minimal funds".
stay tuned for more details about how to achieve this in practice
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