Today, I encountered one beautiful pattern and one ugly one. The sad story is, I let the beauty go, and engaged myself with the ugly one twice.  I didn’t observe the trading rules and eventually dug a big hole for myself. I used up all my morning time to recover my losses and has merely made it. It was a tough day for me, all because I failed to observe the rules: money management with position sizing, and detachment from my emotions.
Take a look at my losses first:

This morning, the …

So far we’ve looked at how not sticking to a strategy, and not planning our trading will inevitably lead us to loss. Now I want to talk about one aspect of planning in more detail – money management.
You’re probably thinking that’s a really really boring subject, but before you decide to skip this article, let me say that money management isn’t just about making sure you survive long enough to turn a profit, it can also open up whole new trading opportunities to you.
Mistake Number Three – Not Understanding Money …