"Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your position ought to be, cut it at least in half."
-- Bruce Kovner
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Simple day trading is all about risk management...
In mid-2018 I was on the back end of a 1 month trading challenge - in my challenges I start as a newbie does with the smallest dollar amount possible and try to grow the account as fast as possible - using one of my simplest setups. I decided to continue trading the setup for a time in that account, however before I moved on with it, I decided to "lose" $1,000.00.
And I'm glad I did.
