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This is the first version of my risk management guide which will be updated and finished in the next few weeks. There is so much I wish to cover but at the same time I want this piece to reach you as soon as possible so you can start implementing the concepts presented in this version. As you might have noticed, there is a Greek mythology character called Caerus on the front page of this PDF. He represents opportunity, luck and favorable moments and this is something we will go through in this book. Trading is not just a random game of pressing buy and sell buttons, at least not in the long run. No matter how good your trading strategy is, your win rate will never be 100%. Losses are a part of the game and your job is to expect them and control them. What you really need is an edge that plays out profitably not over a few trades but over the course of a series of them. The outcome of any trade should either be a big win, small win or a small loss, never a big loss. This is where risk management comes in. You have to study it carefully and apply it to your trading system if you want consistent results and actually become a successful trader in the long run. Trading is a game of probabilities and you have to treat it as such. It is about setting up your game plan and finding ways to gain an edge to put the odds in your favor. Hopefully this article is a good start and it will help you on your journey.

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