This is a fact. In order to be successful in trading, it doesn’t matter whether you are right or wrong when placing a trade. What does matter is that when you are wrong, you lose a little bit and when you are right, you maximize your gains. Why do most traders (especially day traders) lose? They don’t have prudent risk management skills. End of Story. Now, a lot of folks may say, “but the newbie trader doesn’t know how to pick entries and exits”. While that may be true for some, the real…