by User » Thu Jul 09, 2009 8:21 pm
Forum transfer: Submitted by Nick on November 6, 2007 - 15:03.
Some traders are more disciplined than others.
Two traders with the same trading system can have different and even opposite results.
Some traders are more educated than others.
Here I mean not some university degree, but rather Forex "degree". Constant learning and improving eventually sets a gap between an educated and not so well educated trader.
Some traders use money management, but others don't.
Some only pretend to use it, e.g. by applying a "risk 2% of account" rule and doing nothing more.
Serious approach to money management in forex means everything: written rules, lot sizes, leverages, margins, risks, exits, disaster exits, etc - everything should be calculated in advance.
Nick