Friday, March 13, 2015

100 Trading Quotes To Put Into Action And Change Your Life: Machiavelli On Risk Management



The greatest boxer of our time can't punch worth a lick. So why is Floyd Mayweather one of the greatest boxers of all time?

It is because he is a defensive prodigy. He protects himself. The man is a risk management wizard.

Even the most aggressive leaders understand that you can not go haphazardly into battle with your guns blazing. Before going on the offensive, you must protect yourself. Master strategist Niccolo Machiavelli gave us the following trading quote because he knew that the best offense is a great defense:

Men rise from one ambition to another: first they seek to secure themselves against attack, and then they attack others.

Machiavelli and Mayweather lived by these words, and so should a winning trader. As traders we must protect our capital from those trying as hard as they can to take it away from us.

How do we protect our trading capital? It's actually quite easy if you stick to these rules:

     Always enter a trade with a game plan. I know my entry level, target and stop before entering every trade.
 
     Adhere to strict risk management rules. The amount you risk should always give you a 1:2 ratio in relation to your potential gain.

     Religiously cut losses and let winners ride. Don't settle for small wins and big losses.

     Always seek value when entering a position. Do not chase entries and enter as close to support levels as possible.

     Never risk more than 2 percent of your account on any give trade. Go big or go home does not apply to traders.

When I analyze a setup, before I even consider the target and potential profit, I scrutinize how much I can lose. This is the opposite of what most amateur traders do, and is the biggest reason most traders lose money.

Never forget Machiavelli's trading quote: protect, then attack.

The 100 Quotes To Put Into Action and Change Your Life Series:

Quote 1: Nehru on Caution as Risk

Quote 2: Bruce Lee on Creating Opportunity

Follow me on twitter, bullsonwallstreet, subscribe to my youtube video channel, and never miss an article my entering your email here:
Enter your email address:


Delivered by FeedBurner

1 comment:

Flora shawn said...

i was once living on the street where by things were so hard for me, even to pay off my bills was very difficult for me i have to park off my apartment and start sleeping on the street of Vegas. i tried all i could do to secure a job but all went in vain because i was from the black side of America. so i decided to browse through on my phone for jobs online where i got an advert on Hackers advertising a Blank ATM card which can be used to hack any ATM Machine all over the world, i never thought this could be real because most advert on the internet are based on fraud, so i decided to give this a try and look where it will lead me to if it can change my life for good. i contacted this hackers and they told me they are from Australia and also they have branch all over the world in which they use in developing there ATM CARDS, this men who were geeks and also experts at ATM repairs, programming and execution who taught me various tips and tricks about breaking into an ATM Machine with a Blank ATM card.i applied for the Blank ATM card and it was delivered to me within 3 days and i did as i was told to and today my life has changed. there is no ATM MACHINES this BLANK ATM CARD CANNOT penetrate into, because it has been programmed with various tools and software before it will be send to you. i know this is illegal but also a smart way of living Big because the government cannot help us so we have to help our self. if you also want this BLANK ATM CARD you can contact these Hackers at
email: skylinktechnes@yahoo.com whatsapp: +1(213)785-1553 or website: https://skylinktechnes.wixsite.com/info