Understanding Position Sizing: Not Just How Much, But How to Lose
Too many beginners focus solely on where to buy or sell, completely missing the most critical aspect of long-term survival: position sizing. It's not about how many shares of $BOTZ you can buy at 34.40, it's about how many you should buy so that if your stop gets hit (say, 33.90), the loss is a pre-determined, acceptable percentage of your total capital – typically 1-2%. Ignore this, and even a solid trading strategy will blow up your account sooner or later. Risk is always defined per trade, not per day.
Absolutely agree. This is fundamental. So many traders blow up their accounts by not managing risk properly, even with good entry signals. It's the hidden superpower of consistent profitability.