Keys to Successful Day Trading.Part10 (The Last Part).

Keys to Successful Day Trading
By Toni Hansen and Brandon Fredrickson
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8. Using Risk Capital to Trade
Finally, great traders use risk capital. This should be obvious. They trade with money they can lose. So, if I had a 150K trading account and tomorrow I do something where I completely mess up and I loose it all, of course I won't be happy, but I won't be on food stamps either. It's not all the money I have in the world. This frees your mind up. It lets you trade and not worry. You just focus on trading correctly. They say scared money never wins, well, I have yet to see a person who had no other job or source of income, thus needing to live off their 5K trading account,make it... sorry. So trade with risk capital, not student loan money, not the rent, not the food... You get the picture. It makes life easier.
My hope today is that by reading through some of these characteristics, you can help keep yourself on track for success. It has been said that the majority of successful people in the world became successful by following in the footsteps of others, usually their mentors. Even if you do not have one specific person in mind, familiarizing yourself with the traits of those who have succeeded before you is a very rewarding experience.