Mon, Jun 16 2008, 10:41 GMT
by Forex Journal's Collaborators
This article is taken from the Forex Journal (May 2008 issue).
The author, Sunil Mangwani is a Physics graduate with a Diploma in Financial Management.
He has been trading the Forex market for the last 6 years and devises simple trading strategies based on his vast knowledge and in-depth study in the field of technical analysis. Sunil Mangwani will be key speaker at the FXstreet.com International Traders Conference in 2008 October 29-31 - Barcelona (Spain)
The first priority of a trader is to conserve trading capital.
The trader’s capital is his bloodline. Without capital, it is not possible to trade, so preserving it becomes a matter of utmost importance.
It is only natural that when a trade is initiated, the focus tends to be on potential profits rather than on the possibility of loss. We are usually so convinced that a trade will be profitable, that we tend to ignore the possible losses that would occur should the trade go wrong. One must accept that losses in trading are inevitable, but a successful trader is one who manages and controls the losses.
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Published on Mon, Jun 16 2008, 10:41 GMT
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