市場你不能控制，但風險你可以控制!

sec2100

I would just add that prudent trade/risk management is the one thing the trader has absolute control over and is the core focus of highly successful traders. I do not consider it to by my edge per say, more like the foundation to keep me in the game for the rest of my life.

資料來源: elitetrader.com

sec2100

Accounts blow up due to mismanagement of risk--not due to picking entries. Traders who have blown up think their entries were good, but that they held too long or overleveraged. There is no edge in picking entries. All entry systems are known and folks don't have trouble recognizing and entering. What they do have trouble with is admission of being wrong and also with holding a trade for full benefit. Very few have these abilities. Those that do, have the edge.

資料來源: elitetrader.com

sec2100

In order to be successful in trading, it doesn't matter whether you are right or wrong when placing a trade. What does matter is that when you are wrong, you lose a little bit and when you are right, you maximize your gains. Why do most traders (especially day traders) lose? They don't have prudent risk management skills. End of Story. Now, a lot of folks may say, "but the newbie trader doesn't know how to pick entries and exits". While that may be true for some, the real issue is that when they are wrong, they stay married to a position, or add to a position in order to not admit failure. Your best bet would be to learn to embrace failure, learn to shrug it off, learn to admit when wrong and learn to stay in trades that are winners. You see, Prudent Risk Management is not just about placing an initial stop---it's also about managing a winning trade. Remove the focus from high winning percentage. Retrain focus on losing a little and making a lot.

資料來源: elitetrader.com