I traded using eToro Insight.
31% in three days!
Can you share your trading screenshot with us?
op is talking though his bottom.
Hey Xredburn.
Hope your trading is doing well.
I know trading can be exciting when you are making money but one thing i know for sure is that using too much leverage never gets any trader anywhere. Unless you made 15 trades a day, trading at 2% risk, and they where all profitable and you done that for a month. Then it would be impressive.
Below is what i wrote on a similar thread.
Im sorry if this takes away your excitement but im trying to help…
Below is case of what i have seen by traders who risk too much.
Have you ever lost tens of thousands of dollars let alone 20% of your trading account in 1 go? Let me tell you that when you do it will hurt big time and it will rattle your psychology like no tomorrow if you don’t have balls of steel and the experience to deal with “pain”.
On everyone’s trading journey we will experience pain. The pain will come from a loss. What happens is that once you have a severe loss you become unsure of yourself and lose confidence. Then when a set up comes your way and you feel convinced that it’s a good trade, all the sudden you are having flash backs of the time that you felt the exact same way and you lost the money. Then fear kicks in. Fear of loss. So now you have 2 choices:
[B]1: Take the trade hoping that it’s a profitable trade.[/B] Having your fingers crossed the whole time, not being able to sleep, wife tells you to stop trading because your stressed out of your mind, your in constant state of flight and fight mode where you have sweaty palms, tightness in your throat, you become moody, you start thinking about how you lost that $$$$$ and how it could of paid for a deposit on a house, or start up that business idea, or to fund a holiday you wanted, and now for the first time in your life you start praying because the stress is so bad. If this trade doesn’t come through im now down 40%. You will then start over analysing your set ups, and go into over trading mode. Then you will have nothing.
[B]2. Not take the trade.[/B] Having your fingers crossed the whole time that you are right. Hoping the trade that you wanted to trade is a bad trade. If it is a bad trade it will increase your confidence. You will give yourself a hi five in so much relief that you dodged a bullet. You then start to believe that you can actually do this. What happens if the trade actually when your way but you didn’t take it. All that profit you could of made. You then start to beat yourself up in the head. Thinking about all the $$$$ you could of made. FFFARRR OOOUUTTT im so stupid i should of taken the trade. OMG! $*#(@. It then increases your confidence again so you go searching for trades. You find one that your convinced is going to make you the money so you take it. Then what? Loss? Profit? Who knows…
The above is what bad money management does to you. Risking too much. Messes up with your brain. If your brain and mental state isn’t healthy it messes up your trades and many other things in your life.
Healthy brain increases more rational ideas and thoughts>Those thoughts turn into good trading actions> Those actions then turn into good trading outcomes and consistent performance that is measurable.