Ensuring Survival

The highest priority for your business must always be to ensure survival; through both your initial learning period and then throughout your ongoing career.

The only way to fail is to either quit or be forced to quit through loss of funds.

IMP

• Survival must therefore include two elements:
  1. Financial Survival – preventing draw-down of our account balance to a point which forces us to stop.
  2. Personal Survival – maintaining the passion for trading, and motivation to continue for as long as necessary.
• This article and the next will address Financial Survival.
• Personal Survival will be addressed in later articles when we discuss the trading psychology.