After +5000 trades in futures this is what I have learned:
- It is normal to have losses, measuring the risk is the most important thing. Protect your capital!
- Do not put all the capital in futures. (10% of the capital at most).
- Do not leverage more than 10x, especially for beginners. Keep it at 3-5x if you want to trade with peace of mind and not risk being liquidated.
- Risk 1% maximum of the capital in a trade. Eg. if you have 200$ in your futures account, your SL should not make you lose more than $2. It may seem like little but remember that a 1% gain each day will multiply your account by 30 in a year.
- Taking profits is always good, consolidate trades before the market decides to go against you.
- Find a strategy that suits you and makes sense, and do not change strategies every time because you have losses.
- Don't give up, keep learning and refining your knowledge.
- Working on yourself will make you more consistent and not get carried away by emotions.
- Looking at charts will make you make bad decisions. Once you have your play, with SL and TP (can be partial), let the market do its thing.
- If you risk all your capital, you will lose it eventually. Only invest what you are willing to lose.
- Celebrate every win and take note of what you did well.
- Learn from every loss and move on.
- Stay humble as overconfidence is also your enemy.
- Don't worry about making "a lot of money", but about becoming consistent with small gains. Eventually you can scale up those gains over the long term.
Several times I bet everything and lost count. Eventually I was able to recover and come out victorious, persevere and you can do it too. Don't let emotions guide your operations. Have a strategy and don't follow the market tides.
That said, here's a sample of what can be achieved with persistence:
Be careful, I traded with more than 10x, but within what I was willing to lose.I wish you success and don't over leverage yourself!