Trade Management

My cable trade was closed out with a net position slightly above BE. All this took place while I was out in my family at a local shopping mall.

I managed to lock in some profits on half of my position, before the market reversed and stopped out the remaining half of my position.

This trade showed why proper trade management is very crucial. Heck, it's even more important than having good entry setups. In this example, I managed to walk away relatively unscathed.

Was I lucky? Maybe. But I did spend a considerable amount of time tweaking on my money management aspects. I cannot tell you the numerous changes that I've made on my money management spreadsheet, as I evolve myself as a trader.

Trust me, spending time to work on money management is definitely a time well spent.