💰12 Rules of Risk Management from Trading Legend Jesse Livermore

1. Never average down on a losing position
Averaging turns small losses into fatal ones.

2. Always use a stop-loss
A trade without a stop is a bet without limits.

3. Cut losses quickly
Losses should be accepted immediately, without debate or excuses.

4. Let profits run
Big money is made on a few large wins, not on many small ones.

5. Trade only when the market confirms your idea
Your opinion means nothing until the price agrees with it.

6. Never trade on hope
Hope is not a strategy; it’s admitting you are wrong.

7. Risk only a small part of your capital on each trade
Survival is more important than profit.

8. Trade in the direction of the main trend
Fighting the trend is the fastest way to ruin.

9. Stay in a position when you are right
Impatience kills profits more often than a bad entry.

10. Stay out of the market when conditions are unclear
No position is also a position.

11. Increase position size only when in profit
Pyramiding works only in your favor — never against you.

12. Capital protection above all
If the account is wiped out, recovery is impossible.

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