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Day Trading Grain Futures: A practical guide to trading for a living by David Bennett

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5: It’s All About Managing Risk

As soon as I enter a futures trade, my money is on the line. Futures are leveraged investments, so I can lose a lot more money than I’m putting on the table, very quickly, if I don’t take the proper precautions.

You may have noticed that I have a healthy respect for the perils of leveraged investing. If you go into the market without that respect, sooner or later it will hand you a lesson. Don’t learn the hard way!

The right physical set-up

There are certain aspects of risk management that are more a question of plain common sense. For example, I owe it to myself to make sure my physical trading set-up is as reliable as it can be, and that I have contingency plans in place to cover myself if the unexpected ...

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