Let me share this with you, I was thinking that almost everyone who just joined this business are always thinking that they can made their fortune overnight ... Hmmm ... unsurprisingly I was one of them ... in the past and present ... .
After a series of TKO during my trading times, most of its due to the habitual mistakes in exposing too much on a single trade .. I've started to realize that I have to get rid of my greediness in order for me to survive in this cruel business.
From time to time, I am more aware the importance of protecting my capital from being exposed too much to the market risk. It is the 1st thing that we should have in our mind when we're about to hit the buy/sell button.
It really sounds boring to me ... isn't it ... lol ! .... yeah ... there's no excitement when you participate yourself on the trade.. but we have to get back to the main questions ... why did we trade ? surely that almost everyone who risked their hard earned money in this business is to make more money ! ..
For the same reason, I was here (market) is to make more money than I ever imagine before. But rules are always a rule ... you may not be punished on your 1st ... 2nd .. 3rd .. times when you break your rules. Take this as a bet that on a single bad trade that goes against you, your account has been drained out hugely from its previous balance.
You may be lucky if you do have the Stop Loss set on that particular trade, but my experience is telling me that ... most of us will try to increase the SL level from time to time with the hope that the price will retrace back to our original position. In most cases, it will retrace half to our original position before joining back to the main trend. And finally we'd gave up with our losing position by just simply closing the trade .... or else you'll be getting the margin call from your broker.
Most people will hardly to believe on me when I said ... with just USD 250 .. you can turn that amount into a several thousands of dollars (depending on your strategy in approaching the market). But it does require a high discipline and patience every time you approaching your trade.
If we can follow our rules (part of its ... is the Money Management) religiously ... plus with a proven strategy ... this so called HIGH RISK business might be seems easy for you to achieve something that you never dream before ..
