“This rule is broken on a consistent basis by many beginning and intermediate traders. In addition, many seasoned traders singe their fingers as well. Basically, if you don’t understand the exact characteristics of a trade, it is better to walk away from it,” he says. He says it’s crucial that merchants familiarize themselves with the trades they place.
“Each trade has a unique personality. Your personality and your trade’s personality have to match for you to be successful over the long run,” he says.