No matter how experienced and proficient you become as a successful trader, you still need to have proper knowledge of risk management strategies. To make a profit from your business, you must develop a practical plan to properly manage difficult risks. Or you may lose your money. The market will knock you down. To sustain yourself in the trading business, you must patiently learn the basics of trading and, at the same time, make yourself more efficient through practice. You will make mistakes again and again because none of us are above mistakes. But we must learn from that mistake without being disappointed or impatient so that we can use that learning in the future. Always remember that trading without a solid risk management strategy is more prone to losses.