Hi all,
Felt I needed to ad to this thread as I've just stopped being one of the 95% who loose money.
I started trading at the end of october after a month I was £1700 up on an £8000 pound account. Cue the feelings of 'this is easy money' and 'I've got a real handle on the markets'
Roll forward to the end of november and I'm down to about £6700 so a total loss for the month of about £3000, looking back this mainly happened by a refusal to accept I was wrong and a thought that the markets would turn around eventually.
Today I have an account balance just in excess of £8000 again and feel like I may be able to make a go of this.
The time inbetween has been spent doing lots of study especially in terms of being really selective in the trades I enter, and also trade management once in those trades. Oh and fair amount of pulling my 'head out my ass' along the way has also helped.
So I have no doubt you can turn it around and be a successful trader but, as many have said before me, you need to keep learning, and be realistic about you goals especially short term.
Hope this helps
|