money management

Money Management - The Primary Aim of Trading

In this video, Stuart McPhee says that no matter what aims you may identify when first determining what you are setting out to achieve with your trading, all aims are secondary to your primary goal — preserving your capital. This is by far the most important aspect of successful trading.

Making money is not the most important aim. The money that you have are the most important. Protecting the money that you have is the most important aim. Making money is also important. He was sometime asked what is his best advice for a trader and he said that he would say not to get out.

Trading Goals & Money Management

In this video Stuart McPhee talks about your primary goal as a trader. He is suggesting that making money is not the most important aim. There is actually something more important. And the more important thing than making money is preserving the money that you already have. Protecting the money that you have has to be yours most important aim. Of course, making money is important. He was sometime asked what is his best advice for a trader. He said that is easy: "Do not get out!"

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