You lost big because you didn’t respect the destructive power of the markets.
Risk management is EVERYTHING.
It’s so easy to push buttons on a screen and feel like it’s nothing. A chart doesn’t give real world feedback like a newbie skier peeking down a triple diamond glade, or a beginning surfer looking at a huge wave.
But it has the same power to crush and destroy…
You are on the wrong side.
Think about that for a minute…You lost $60,000…Somebody took the other side of that those trades and took your money. If they did it to you, you can learn to take it back from them.
But your head is fried. Take some time off and don’t look at markets for a while until the hurt subsides. Then open NO MORE THAN A $500 account (Never trade demo unless you are learning a new order entry system, it’s just lying to yourself.)
You are going to hate this next rule, but if you follow it you will have a shot at surviving your learning curve.
NEVER ADD MONEY TO YOUR $500 ACCOUNT UNTIL YOU ARE PROFITABLE FOR 90 DAYS. (100 trades minimum).
When you make money consistently month after month after month, then you know it was skill and edge rather than luck that paid you.
Read "fooled by randomness"
Amazon.com: Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (9780812975215): Nassim Nicholas Taleb: Books
Find something simple that works and do it over and over and over. Simple works, after that its repetition. Good trading trading is a blue collar endeavor. Grind and grind and let the compounding do the rest…