First off, let’s start off by looking at position sizing. Position sizing, in its most basic aspect, is the dollar amount being invested in any security on any trade. Every successful trader will have pre-determined rules for their trading account.
Blackjack players at a casino will spend a lot of time deciding how much to bet on each hand. At least the serious ones do. Often, they even have a system. Traders may be surprised to realize they might not be as well prepared as savvy card players.