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Psychology and Money Management

This forum is where successful traders spend most of their time and where struggling traders never visit. The psychology and money management forum is where you learn to become a profitable day trader


Millionaire in 10 weeks & Conversation with broker

  #6 (permalink)

Posts: 128 since Jan 2013

Rrrracer View Post
Why put it in a separate post instead of just adding to the existing Part 1 post?

Because I saw a lot of confusion on the TradeStation forum. Many don't seem to see the different between a Money Management Technique and a Trading System.

The Money Management Technique is what you do AFTER you have made your 100% ROI and doubled your M2K contract and the Trading System is the method that will help you make the 5 pts of profit that will make you this 100% ROI.

If you suck at trading or you lose 1, 2 or more pts per losing trade, you will NEVER be able to do the Money Management Technique on Part 1 so the bulk of our conversation will be on Part 2 - Trading System and how we can make those 5 pts hopefully on a daily basis.

Btw, did you see those screenshots on Part 1 or am I still limited to posting without images here?