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Tactical Trend Trading: Strategies for Surviving and Thriving in Turbulent Markets by Robert Robbins

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Discipline and Risk Control

What makes a great general? To know when to retreat; and to dare to do it.

—Duke of Wellington

So far in this book, I’ve addressed the markets and the attractive setups traders can use to play offense and create alpha for their trading accounts. But even if you master everything I have taught you thus far, you will have completed no more than a few steps in your journey to becoming a successful trend trader in the long run. Why? Because without risk control, you might as well kiss your profits goodbye. Risk control is the practice that ensures your long-term survival in the markets and keeps you profitably in the game, ...

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