Trader Quote #10

Trader Quote #10

“The art is not in making money, but in keeping it.” – Proverb

====Well the summer is almost over and we all have to get ready for the real action in August. This quote should be included in any business plan especially in the risk & money management section. People think or can be fooled by other people or scammers that say they just make $10,000 or $100,000 in a couple of days. What they Don’t say , is how much of that money they managed to keep (draw down).
I mean, ‘practically’ anyone can make that type of money with a lucky streak or betting all the poker tokens, but it isn’t sustainable with time and you will wipe out your account.
It’s simple, how much do you make on the winning trades and how much you lose on the losing trades? Make and keep more of your winners and give back the least possible with your losers. Many people respect this rule in the begining of their account but somehow lose the discipline with time and risk it all in one trade. Avoid this and let your money grow slowly and “safely” with low risk. Sleeping well is the secret to ‘riches’.
So even if somebody wins the Lotery with many millions, the question to him in a few years would be “how much of those millions did you keep or grow” D.F. ====
 
What do you think about this quote? Any tips or experiences you want to share? To you agree or disagree?


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