The importance of risk management!

Risk management in trading is a must, it will be impossible to succeed for a trader to just keep on opening trades without giving emphasis in controlling the risk in every trade he/she open, trading is a winner minus loser game, no matter how good a particular strategy is their will always time for draw down period where such strategy will have its losing moments and if you are not taking care in controlling those loses it will possibly wiped out your account soon. Perhaps every trader read and heard about risk management a thousand times yet majority of traders ignored this aspect somewhere along the way during trading, why? its because of a bad psychology, knowing is something but doing is another thing. In my opinion trading psychology is one of the most important aspect in trading that should be giving much importance in a trader's education.