justgbp Diskussion

I was overtrading this account recently for taking more than 15 trades per day while I should take 2 or 3 trades per day. I was lucky enough to keep this account as is. However, no matter how many times luck is on my side, it only takes one unlucky day to wipe out my account if I continue to trade with luck. I must prevent it from happening.

Per my trading plan, I will stop trading once I have 10% losses or drawdown that just happened yesterday. I have to stop trading for at least one week because the 10%+ drawdown. I may start trading again next week if I feel I am readay to do so.

After making higher returns, I almost forget that I only need to produce 10% monthly compound returns to turn this $9740 account to $100,000 in 2 years. I must follow my trading plan and find a way to accept/enjoy losing days. I was thinking about winning every day. That is why I am overtrading to turn a losing day to winning day, which is very damger. It's all about mental issues because I know I have the skill to produce consistent profits if I am health mentally. Any suggestions for me to improve my mental skills are greatly appreciated.

Thank you and trade well.

Believe me, I know what you're talking about. I don't think I am or anybody else is in position to give you suggestions, we all have different natures, tempers ecc. Every single trader is a different person and has to go his own way. My way to success is maybe not the same as yours or somebody else's. There's a saying about traders in my country: you cannot learn to win before you've learned to lose(or maybe it's international). I have to say that it's all about time and experience, a good trader is like wine, the older, the better.