You have a finite amount of capital. That is the "edge" that the broker has as he assumes your risks....
Every trade has the potential to take a significant percent of your account. That, my friends, is why money management is so important. Rob Booker and Merlin have stressed this in several posts.
You should do everything in your power to protect your capital. The fact is, the markets are random, no matter what any indicator or mythical fibonacci number tells you.
PROTECT PROTECT PROTECT. Get out of losers quick, because without capital you are nothing but a sidelined player on the injury list.
There will always be a few "lucky" winners that figure out more probable ways to survive, and make nice profits. However, those that trade without stops (or even without tight stops) will feel the pain.
Every trade has the potential to take a significant percent of your account. That, my friends, is why money management is so important. Rob Booker and Merlin have stressed this in several posts.
You should do everything in your power to protect your capital. The fact is, the markets are random, no matter what any indicator or mythical fibonacci number tells you.
PROTECT PROTECT PROTECT. Get out of losers quick, because without capital you are nothing but a sidelined player on the injury list.
There will always be a few "lucky" winners that figure out more probable ways to survive, and make nice profits. However, those that trade without stops (or even without tight stops) will feel the pain.