This then bring me to the overlooked key to long term trading success which is ''Risk Management'' I know to some people this concept may not be as flashy as doubling your wins or make huge profit, but the truth and reality of the matter is that if your loses cannot be properly managed, you as a trader may not even last long to enjoy your wins.
Things like setting stop loss, not putting all of your money in one single trade no matter how sure you are, understanding your risk to reward ratio, knowing when to sit out a trade , all of this makes a huge difference. Its not about being scared but being smart.
These sorts of "advice" may be good if you have a large amount of capital to distribute and diversify in different assets as a form of protection from volatility and to lessen the drawdowns. BUT, we're mere plebs and most of who are merely starting out in their investment journey don't even have $10,000 as starting capital.
In my personal opinion there's ONE asset that all plebs should put most of their savings in, and HODL. What asset is it?
