#Tip of the Day “Novice Traders trade 5 to 10 times too big. | Millionaire Moon Project

#Tip of the Day

“Novice Traders trade 5 to 10 times too big. They are taking 5 to 10 percent risk, on a trade they should be taking 1 to 2 percent risk on.” - Bruce Kovner

Meaning: As a rule, when you first start trading, never risk more than one or two percent of your trading account on a trade. For example, if you have $3,000 in your account, never trade more than $30.