Unfortunately, money management cannot, and will not give you an edge. Its rather worrying that you consider yourself an expert, and yet fail to grasp this most basic of concepts.
I’ll leave you to it, you’ve a very long road ahead of you, and you shouldnt be wasting time posting on forums.
I have re-read all your posts, and you havent made any comment about what will give an edge to a system. You put so much effort in trying to refute other people opinion, but you never give any solution. And that becomes repetitive in other threads, which proves that you are LOSING AND FRUSTRATED trader.
“money management will not give you and edge”
“back testing will not give you and edge”.
Then tell us…what will give a system an edge? Include REAL and not theorical examples based on your experience.
After pondering it a bit, you have put the proverbial foot in mouth. It’s silly how little it takes for you to get all riled up and scream for bloody murder. If that eases the blow to your ego then please continue.
As the wise Joker once said, “Why So Serious?”
Money management is something to protect your trading capitol. Its really used to minimize the impact of a losing trade on your trading capitol.
Trade management is how you “grow your trading capitol”
Funny thing about R:R, I hear a lot that you should have a 1:2 or 1:3…etc etc in order to make any gains. Well the market doesn’t care about what you set your R:R at, it gives what it gives and that’s it. With experience it becomes a lot easier to recognize.
I close portions of trades out at certain levels and leave the balance to run till I achieve my TP level or hit BE +10. Other times I will close the trade just cause I don’t like the PA.
A very wise a successful trader once told me… “take profit often, it is one of the keys to being successful”