There are many factors that determine the overall success rate for a trader. It is easy to see the vast differences between the novice and professional speculators, but as the beginner starts to make progress, it comes down to the more subtle factors which greatly distinguish the level of their consistency. We all know that the majority of novice Forex traders fail to protect their capital efficiently enough, resulting in early account retirements and huge losses, plus they typically do not work from a detailed trading plan to help them recognize the highest probability opportunities in the market with the least risk. On the other hand, the professional traders are skilled in their approach to risk management and only take the setups which respect the rules of their disciplined strategy. However, as I mentioned before, when the novice does make the crossover to consistency in their trading, they then need to focus on the dynamics which will ultimately shape their results over time. …continue to read this article”Trade Management: Often Overlooked and Mostly Ignored”
