Dear trader,
Unfortunately, Novice Traders often believe that all that is necessary to be successful is to adopt a system with a proven track record, and they will make profits.
No system is ever perfect, and the best systems will go through draw down phases. It at these points novices give up and move on to the next best system, without realizing its the Money Management that is the issue.
If they could address that one issue they can weather the draw downs on all good trading systems. The market always acts impartially and takes no prisoners. Traders must be prepared to accept the verdict of the market place, and admit the trade was wrong.
It is the Money Management that helps the pros when the market is not prepared to do what we expect it do do. Professional Traders realize that the system does not achieve their goals, its the Combination of The System and Money Management that attains their goals.
Money Management Is One of the most important aspects of a traders system. There is a real dearth of information on the subject, many professional traders all point to it, but none explain it, till now.
This is the one critical aspect that you need to master in order to be successful over all.
