๐ฅAttention here:๐
I lost $100
when I first started trading๐
It was a dark period of my life, filled with regret, confusion, and a feeling of failure. I wanted to give up.
But instead, I made three crucial changes that changed ๐๐๐๐๐๐๐๐๐๐:
1. Trade less pairs
I was all over the place. I could find profitable setups, but I was trying to do so on 5-10 pairs a DAY. I had 2 monitors with multiple charts open on each and refused to miss a single trade.
I realized this was leading to sloppy execution and mismanaged trades.
I set a rule for myself to never have more than two charts open and to never be in more than one trade at a time.
It was a hard rule to follow at first but it vastly increased the quality of my trades.
I currently almost exclusively only trade
2. Emotion Management:
One of the hardest things in trading is keeping emotions in check. FOMO, panic selling, greed - they all got to me initially.
I started using risk management techniques, setting stop losses, and journaling my trades to keep track of my emotional triggers.
3. Smaller size
You dont lose $30k with small sizing. You lose it by sizing up way faster than your skill level. Which is exactly what I was doing.
My ego didnt want to take trades and only make $50-$100. I wanted to make $500-$1000. But I wasnt ready to handle the losses that came with it.
The large size I was using along with my other faults led to the hole I got myself into.
I got rid of my ego and sized down.
This helped me take trades with less fear and slowly begin to build some consistency.
Its by far the important thing I did and the most common mistake I see people doing.
The journey from a $30k hole to consistent profitability wasn't overnight.
It took persistence, resilience, and a commitment to continuous learning.