Risk Management, FA and TA

Took this from a conversation I just had with a friend on trading risks and thought it was worth posting here.

That's the game. Risk management. Every trade is a risk, some more than others. If you don't take risks you don't earn. Our job is to limit those risks with TA and FA... Sometimes mistakes are made. We only make stupid mistakes if we make the same mistakes repeatedly and don't learn from past failures.

The italic text is taken from a conversation on trading risks and missing key factors in a trade that could go wrong. In this instance I was talking about an arbitrage deal that went sideways on me last night. I seen a huge opportunity to make a nice arbitrage deal between Bittrex and Cryptopia but failed to take the insanely long confirmation times of the forked BCC. As I waited on confirmations I watched as my profits slowly dwindle away.

With every trade we take risks, some we see, some we're not able to see till they happen and some could be avoided. Had I researched confirmation times and difficulty level on the BCC blockchain, I would of realized how risky the trade was.