Having enough capital to trade another day is the golden rule of day trading. What differentiates a trader who trades for a living and a trader who trades casually is how risk management is handled. A professional trader regards his or her capital as raw material, a hobbyist trader regards his or her capital as play money. Risk management is the only way to stack the odds in your favor and assure longevity in this industry. This article explains why risk management is so important. Good read
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