Educational
As a newbie you might blow your account in a matter of months or days if fortunate minutes(lol just kidding)..
Now I am sure you have this professional man or woman you are looking up to. But wondering how to stay in this game for long just like him or her? I got you covered.. Lemme slap you with my "will" power..
The only way to be in this game is to control your risk and emotions.
Let's imagine Rock has a 1000$ account.. Will it be wise to enter all in? That's a big NO. that will be gamble no matter how sure he is with the trade. we have what we call a win rate.. Everybody has a win rate.. If your win rate is 60% then it means in every 10 trades u win 6 and looses 4... But the question is how sure are you not to loose 4 times consecutively? When Rock decides to use 10% of his trading account and looses 4 times he might have lost 40% in just 4 trades and that's insane! Yo!... This is not a demo account!
So how do you about it?
1.Take 2-3% into every trade with that you can always have money to stay in the market for long because if you loose 4 times consecutively with a 2% risk management that will be 8% loss of your main account that is manageable compared to Rock's 40% draw down.
2. Do not over leverage.
3.Reread this post if you blow your account
Safe trading...don't be like Rock.
Now I am sure you have this professional man or woman you are looking up to. But wondering how to stay in this game for long just like him or her? I got you covered.. Lemme slap you with my "will" power..
The only way to be in this game is to control your risk and emotions.
Let's imagine Rock has a 1000$ account.. Will it be wise to enter all in? That's a big NO. that will be gamble no matter how sure he is with the trade. we have what we call a win rate.. Everybody has a win rate.. If your win rate is 60% then it means in every 10 trades u win 6 and looses 4... But the question is how sure are you not to loose 4 times consecutively? When Rock decides to use 10% of his trading account and looses 4 times he might have lost 40% in just 4 trades and that's insane! Yo!... This is not a demo account!
So how do you about it?
1.Take 2-3% into every trade with that you can always have money to stay in the market for long because if you loose 4 times consecutively with a 2% risk management that will be 8% loss of your main account that is manageable compared to Rock's 40% draw down.
2. Do not over leverage.
3.Reread this post if you blow your account
Safe trading...don't be like Rock.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.