Any successful trader knows that risk management is not just about minimizing risk, it’s also about knowing when to take on more risk.
In my experience successful trading is about seizing moments & some moments require taking on more risk than others.
Learning when to increase or decrease your size and risk is a risk management skill all traders need to have. For example in the indices, when there’s divergence between them I risk less, but when they’re all moving together in the same direction I’m willing to take on more risk.
To finish off, I’ll share my final thoughts with you guys with a popular tweet between the community, why your trading plan shouldn’t be set in stone and should be adaptable to any scenario or environment.