We have all heard the tale of the Tortoise and the Hare, wherein Aesop teaches us the lesson that "slow and steady wins the race." Like wise in trading, consistent, steady profits and solid money management translate into a winning portfolio. With us today to share his thoughts on money management is Mark Hodge, Head Trading Coach at Rockwell Trading. After you have read Mark's take on this important facet of market success, please share your thoughts, comments, or questions below.
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In my experience very few traders truly understand money management and how to use it. This is unfortunate. I’d argue that money management is the single most influential factor on your financial growth as a trader. Using the example below, I’ll even show you how you can double your trading account in less than a year, averaging only $125 a week. Continue reading "The Power of Money Management"
As traders we tend to think the most important part of trading is making money. This is what we all want, but sometimes we don’t pay enough attention to what is really important and that is protecting our money.