Welcome Back To Risk Management
After one month of break from trading, I wasn't used to dealing with seeeing big numbers and I had a major brain fart. I started to lose money guessing on inflation and instead of putting in my stops I pulled an Ingersol and doubled down. Stupid....Stupid...Stupid. Anyways, lost 7 grand, and my pride...
There are 250 trading days in a year. As a beginning trader if you can just average 1,000 dollars a day you can earn 75,000 in bonus, which is awesome for a first year out. This is a very do-able goal. Although it is glorious to make those 30-50 thousand dollar days, the key to this game is keeping your losses to MINIMUM!!! Let your winners run, but if you go up to your goal, get out and take a long relaxing lunch break.
Tommorow I start my regimine of extreme risk managment discipline. If I don't make money that's fine, BUT I will not let my losers run like I did today.
After one last play for the day I managed to get back positive and make $4800.63 on 856 contracts. Still no excuse for the poor performance early.
There are 250 trading days in a year. As a beginning trader if you can just average 1,000 dollars a day you can earn 75,000 in bonus, which is awesome for a first year out. This is a very do-able goal. Although it is glorious to make those 30-50 thousand dollar days, the key to this game is keeping your losses to MINIMUM!!! Let your winners run, but if you go up to your goal, get out and take a long relaxing lunch break.
Tommorow I start my regimine of extreme risk managment discipline. If I don't make money that's fine, BUT I will not let my losers run like I did today.
After one last play for the day I managed to get back positive and make $4800.63 on 856 contracts. Still no excuse for the poor performance early.
posted by Shiptastic at 9:49 AM
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