The Trading Game
"Money management is 90 percent of the game. Money management is the most important aspect in trading when it comes to the bottom line. Larry Williams turned $10,000 into $1.1 million in one year. He states in his book The Definitive Guide to Trading Futures, “Money management [is] the most important chapter in this book.” As a matter of fact, many successful traders rank money management as the highest contributor to their overall success in the markets. If money management is such a critical factor, then it becomes important to know exactly what money management is, and is not. There are many more or less correct definitions of money management in the industry today."