Quote:
Originally Posted by PrivateFX
Money management is what will make a difference between a profitable an unprofitable trader. There is no technical analysis or fundamental analysis strategy out there that will let anyone profit consistently. You need to control emotions and have money management skills. Technical and fundamental analysis is just a small step to being successful. Learn to control emotions and money management, then you stand a chance.
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To be consistently profitable, regardless of the approach you use, you need to have a system/method/technique that is a net winner over time. If you do not, the best money management approach and the most rigid discipline will do nothing more than slow the process of shrinking your account. You cannot turn a losing system in to a winning one through money management and a good trading pyschology - though you can turn a winner in to a loser if you don't trade control your risk and keep your head on straight.