Just Starting Out? Only Risk What You Can Afford To Lose!

CandlesForBreakfast
01-19 16:39

Boss Move #02

If one loss is going to have you eating noodles for a month,  or even a day your risk is too big.

If you're going to lose sleep over it ... you shouldn't be risking it. Don't trade with your ego, you will be setting yourself up for failure.  

It's a classic beginner mistake.. especially if you've had a couple of good trades, then bam risk it all and it's all over rover! New traders blow accounts by risking too much too soon.  I've been there, bought the tshirt, and even went back and bought another ๐Ÿ˜† 

If a single trade makes you anxious, you're risking more than your account can handle. Small position sizes keep your emotions quiet โ€” and quiet traders last longer, and are more confident in their trades.

Start trading with a demo account and keep a trade diary! Notice the patterns and then start with real money once you have some confidence!

10 Deadly Trading Mistakes! Have You Put Your Account in Danger?
โ€œUnplanned profits always end up turning into bigger losses.โ€ ๐Ÿ’ฅ Have you ever had a winning trade on your account, only to see those profits vanish because of an impulsive decision or poor position management? Do you lean more toward strict stop-losses, or waiting for a rebound? Was there a single trade mistake that taught you a lesson and changed your trading habits?
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