MOST IMPORTANT. Why is Risk Management important? If we aim for a decent R/R ratio, most strategies give around a 60% win rate. It means that out of every 100 trades, we're likely to lose around 40. And losing 5 to 10 trades consecutively is also likely-even with a winning strategy.

Now, let's suppose we've a $100 in our account and we risk 10% per trade, and the tragedy strikes. Losing only 5 trades in a row would cut our account into half and render us unable emotionally to continue with that strategy or even trading.

Therefore, instead of trying to get rich overnight, try to stay in the game long enough to end up being profitable, not immediately but eventually. Let's win together!