The term “Manage” means to be in charge of, act upon, achieve a goal, or to be successful in an endeavor. We want to remember that when we approach stock trading or investing.
I am a firm believer that management is more important to trading than how we actually trade. After all, when we realize that even traders that achieve a profit on only 30-40% of their trades can still be successful traders, then we also must realize that there is something other than having every single trade be successful that is contributing to their success.
- Image by 96dpi via Flickr
That, my friend, is management; Money management, trade management, self management, emotional management, and the list goes on.
Successful managers set priorities, take responsibility for their actions, act according to the welfare and concern of what they are managing, and lead those concerns to success however defined, even if they are only managing themselves. This is just what we want to do.
Whether those concerns are money like in the stock market as a trader, driving a car to the local supermarket to do the weekly food shopping, or the welfare of United States as being the president, we want to manage our way to success.
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