Trading is one of the most lucrative career options available, there are oceans of money available to the skilled trader, the question is how many make it to the level of skilled trader?  Trading is like any other career option out there, you must continually improve yourself or be left behind.

A very important part of money management is education.  It is wise to set aside a certain percantage of your winning trades toward continual education. That is the part of your winnings that can never be given back to the markets.  Immagine if you set asside 5-10% of your winning trades to spend on improving yourself as a trader. 

Reading books, going to seminars, speaking with other traders.  Can you even immagine how quickly you would become a master trader?  Unfortuantly the sad fact is that the average trader will take a winning trade and spend the earnings on something uselss.  Why?  because he knows all too soon the market will be ready to take it back from him if he is not disciplined.

DO NOT FALL INTO THAT TRAP!  When you have a winning trade, set aside a certain percent to improve yourself.  When you do that you guarentee that you have benefited from a winning trade regarless of market conditions. 

In most of the Key Concepts I have made some recomendations of books that I own and re-read all of the time.  It is critical that you do the same!  

The only constant in the markets is change.  You must be in a state of mind to accept and adapt to that change though an open mind and continual education. 

It is critical that you commit to reading one new book per month about some area of the market.  It will become your edge over others in keeping top of mind awareness of the key elements that allow you to stay on top of your game.  

As Benjamin Franklin said, "empty the coins of your purse into your mind, and your mind will fill your purse with gold"