It’s commonsense to say things like “If you don’t know what you’re looking for you will never achieve success…” but SO many traders start trading live with no real concrete trading strategy or trading edge. The most important parts of managing your money as a trader are controlling your per-trade risk (1R = risk amount per trade) to a 1R dollar amount that you can realistically lose on any given trade without it affecting your personal finances or trading mindset. There are basically two parts to setting yourself up for trading success: The ‘work’ of learning how to trade the market and then the implementation of your trading plan.