its not how much profit you make, but how much you keep
So you made some money trading today? but how much are you going to keep by tomorrow, or next tomorrow, or even next week? Many times traders make money from a trade then re-enter another series of trades and lose all the money again.
The cycle goes on and on, its not how much you made from a couple of trades, but how much of it you can keep in your account without giving it back to the market through engaging in risky trades and over-trading. What do you think?
I can relate to what youre saying George! Its the cold truth!
Its easy to call yourself a trader but how much of the profit do you really keep gicing it back to the market? It is like running around in cirlces only to find yourself back at the begining.
When i started trading XAU/USD i was always making money then losing it back to the market until I said to myself "this has to stop". I began trading responsibly and only taking high quality trades with a high probability of success. I also started cutting my losses very early not giving them time to grow.
The solution is to manage risk properly and not lose too much money in one day, so you have enough gun powder to try again the next day.