How Important Money and Trade Management?

June in my opinion is not a good month for day trading. You may see interesting article in this

But June also the month I began to apply Trade and Money Management. I've already told about this in my previous posts. And the results surpassed other months performance, even though it's not fascinating but it's good.

Setting Up the trade and money management is very important to survive this business in the long run. It's also help you psycholgically especially when you made this for a living.

My money management is about to pay myself daily. I take some money from my trade aside and the feeling of being paid daily is good. My mental state refreshed every time I get this instant gratification. I learnt that from an audio-book called self-discipline. As an full-time employee, maybe my subconscious mind told me this is also a job cause you're getting paid daily.
And I also experienced the failure when not doing this.

Create and apply your own trade and money management what suit you best, IMO is also giving you edges in this trading business.