This risk management is one factor that traders neglects while trading especially those traders that are lucky to make some good profits from trading, they feel they have arrived and are now experts in trading forgetting to know that it's not all the time they can make profits from trading and they start making trades with higher amounts such that their money won't sustain them for longer trades when they run some losses. Risk management is very necessary because that is what propels a trader for long term trading success.
One good trade is probably luck, two - a coincidence, third - is skill (surely, it's only a phrase, the
reailityreality needs much more than only three trades, but
I do think the idea is right).
You can't be in plus forever without proper knowledge, experience, and management of risks built up, with that, I totally agree.