An effective trading strategy is only part of a successfully trading plan. If you want your trading to perpetuate, you better have some form of money man-agement built into your overall trading approach. Money management involves examining the concepts of risk and return in reference to investor preference. The objective is to choose a desired rate of return and then mini-mize the risk associated with that rate of return. Money management concepts should be used to make the most efficient use of trading capital. We can’t emphasize enough the importance of using money management in a trading plan.
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