Learn to Take Losses: According to Marty Schwartz, The most important thing in making money is not letting your losses get out of hand. Stay Objective: According to Randy McKay, I'll keep reducing my trading size as long as I'm losing... My money management techniques are extremely conservative. I never risk anything approaching the total amount of money in my account, let alone my total funds.Transaction Costs: According to Van K. Tharp, I seldom see a system that over a number of years produces profits that are much bigger than the transaction costs it generates - that is, if a system generates a million dollars in net profits, ForexGen then it probably generates more than a million dollars in transaction costs.
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