One important difference between a successful and an unsuccessful trader is that the first is able to survive under unfavorable market conditions, while an unsuccessful trader will lose his account after 10-15 unprofitable trades in a row.
Even with the same trading system 2 traders can get opposite results in the long run. The difference will be again in the money management approach. A quick fact to get your mind thinking about money management: losing just 50% of you account balance requires making 100% return only to restore the original balance.
Never risk more than 2-3% of the total trading account.
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