PollyM
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"Money Management and Position sizing are crucial elements of trading but often underplayed. I have found that these two disciplines alone give big confidence when entering a trade - knowing that the overall risk if the trade goes wrong is calculated and containable."
It always amazes me when people just ignore these factors
It is very difficult for new traders to quantify this risk which, for many, comes with the experience of trial and error.
In essence, traders need to develop their own particular technique for isolating 'high probability' trades. I may start another series of posts soon which could be of help, starting out with a specific mathematical approach that may be used as a benchmark to surpass.