I lost $10k in futures in 3 weeks a few years ago.
I didn’t even tell my best friend, I was so ashamed.
I had a string of beginner luck trades and thought I was an expert.
He would even occasionally ask me for calls.
But those 3 weeks were the most stressful time of my life.
Cos I thought I was good at trading, so when I’d loose a trade I’d open another one right after.
Not thinking logically, revenge trading.
Revenge trading ran my futures balance to 0.
Most of my losses came from my 2nd or 3rd trade of the same day, because I was hot and wanted to make it all back.
Trading futures is an extreme sport, money can be made from it but it’s not for everyone.
Here are some tips to help guide you:
➤ Always stay calm and composed.
➤ Trade only when you see a good chart, not because you’re supposed to trade, so be patient.
➤ Use TA only, no hunches, no gut feeling, none of that.
➤ Stop loss is a must.
➤ Set take profit points before placing trade, otherwise greed won’t let you close the trade and you’ll lose it back.
➤ Never revenge trade. If you’re having a series of losses, take a break.
➤ Don't over leverage, it will reck you.
Trade safely guys, LFG 🔥.