As both a student and an instructor of this matter, I am always looking for a way to reinforce the basic tenets of the profession. I am always shocked, when I see my students breaking all the rules and still whining that they just can t seem to get on the right side of a trade. So back to basics. Money is valuable. Incredibly, many treat it as a caste system of valuation.
Money earned by digging ditches is somehow more valuable than money found on the street.
It is treated differently. As a trader, I can guarantee that you will not win all of the time. Just because you made some money on that screamer , don t get cocky and throw the profits into a gamble. You need to husband your money for the lean times. Getting reckless with profits is a fast way to get back to being broke.