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Perhaps the greatest secret to top trading and investing success is appropriate money management. I call it a “secret” because few people seem to understand it, I including many people who’ve written books on the topic. Some people call it risk control, others call it diversification, and still others call it how to “wisely” invest your money. However, the money management that is the key to top trading and investing simply refers to the algorithm that tells you “how much” with respect to any particular position in the market.
There are many psychological biases that keep people from practicing sound money management. In addition, there are also practical considerations, such as not understanding money management or not having sufficient funds to practice sound money management. ...

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