I remember a day that I lost close to $2,000 on a single Futures trade. I had done everything I could have done, except one thing.

When I started seeing the trade going in the opposite side to my expectation, I put some more money to shield the trade from liquidation. That put my mind at ease, but it was not going to last long. I saw a few more red candles confirm.

Little did I know that there was going to be come more bad news. A big lesson I learnt this particular day: Risk Management.

Once the trade starts going south, ditch it. As quickly as we try and take profits, we should set our stop loss positions

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