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General Forex Discussion
The Most Important Goal in Trading
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[QUOTE="ituglobal, post: 65107, member: 23629"] “Being profitable in the long run with trading, and all investing for that matter, is about cutting losses and letting profits run. Although it’s a hearsay thing of ages, statistical expectancy actually proofs the saying mathematical. It’s not about being right or wrong but handling both profits and losses well.” – Dirk Vandycke Whether you’re a beginner trader or an experienced trader, you need to know that the most important goal in trading is the permanent safety of your capital. When the fund in your account is gone, what can you use to make additional transactions? You’ll need to replenish the account or open another one. But when the fund in your account is intact – no matter the vagaries of the markets – there’ll come some periods when you’ll make profits. Profits come on existing accounts, not defunct accounts. Sadly, too many people are obsessed with making money that they forget or neglect the principles that can keep their account safe. One great piece of advice is attributed to the Oracle of Omaha. He said that there are two trading rules: 1.) Don’t lose your money! 2). Never forget rule one! Honestly, there’s nothing more important in trading than the rules above. All other rules are secondary. You mayn’t want to agree with me over this. Many people may be making noises in forums and other social community places for traders, saying that there are other things that are more important than the fact above. But bear it in mind that anybody can say anything about the market, and you don’t need to be a guru, or have a fancy university degree, or show your muscle or be a rational person before you can voice your opinions about the markets. All you need is to have a big mouth, and you’ll get more and more followers. In reality, most of the ‘big mouths’ are being forced shut when the market shows them its true color. The vagaries of the markets aren’t a curse, but they’re rather a blessing that enables us to make gains in the markets. The only thing the market can do is to move sideways, up or down. This truth will ever remain timeless, and therefore, those who know how to anticipate the moves would be victorious. No matter what your aims and ambitions are as a trader, the most important thing you can bear in mind is the safety of your portfolio. This goal is not difficult to achieve, provided you know how to go about it. Some of our future articles will explain how the goal can be realized. [/QUOTE]
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