iCharts Discussions

[Exness Official]

“It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffett

This quote from the great Warren Buffet is obviously more about investing, but we can certainly apply it to trading as well. To me, he is talking about money and risk management here. As a trader, it’s dangerously easy to lose months or even years of progress and trading success by simply risking too much on one trade. I’ve seen traders do this time and time again; they get going good, they are trading with discipline and following their strategy, then a setup comes along that they are just ‘sure’ about and they double or triple their normal risk on it. When the setup fails, they’ve just lost a lot more money than they are comfortable with, and this sets off a cascade of emotional trading mistakes that causes them to quickly undo years of hard work and discipline. Don’t let this happen to you; control your risk on EVERY trade.

And that is what I had learned from my broker Exness .They made me learn about risk management and investing and that helped me in maintaining a good profit position in trading.