Kardec Trader explains that day traders need both offense and defense: play offense when opportunities are clear, but switch to defense in flat markets to protect capital. Many traders make quick gains then lose them by skipping the defensive work.
As a trader you have two things right. You have the ability to play offense of making money but you also have to know when and how to play defense on your capital and your mental energy. You can't be a great trader by just playing offense and you can't be a great trader by just playing defense. You have to know how to use both of them hand in hand. When the market is hot and there's opportunities, go play offense with defense covering up some of the risk and then when the market gets flat there's no opportunities. You can't read the market, you're having a difficult time. Play defense, protect your capital, stay alive. Don't be one of those traders that makes a lot of money. Week one, three weeks later they blow it all plus more. So use both hand in hand and combine them in order to stay alive in this game for a long period of time.
