I have only been trading for about 3 months and now have a 1 million dollar account!! It was not hard to achieve. I just made sure to use maximum leverage and go long or short at random on whatever pair looked the most exotic each day! No strategy needed!
I also made sure to start with a 3 million dollar account but that is beside the point.
Oh, How powerful risk management is… Or the lack thereof.
One feeds into the other. But they become separated in situations where you’re in profit and there is no longer the same risk to account capital, but risk to unrealised gains is occurring, and there is increasing risk of lost opportunity. At this point, its possible to increase position size but how many of us do?
I had to read this post three times to understand the power of risk management, or lack of it thereof. Its quite important for any trader to strat with demo trading, and once you are ready for a live account, start small, take low leverage, and build your strategy. It all depends on how well you follow instructions
Yes, you really need like few millions of accounts here for sure. Each will need to have like a few millions of dollars to be succeded. So it’s not like that really. I do not understand anything at all. How does that sounds ? Sounds good;) Please post it here for more fun.
RISK MANAGEMENT! RISK MANAGEMENT !!!
just keep it stupid simple by planning your trades and trading your plan with 100% discipline…
GR8 LESSON TO LEARN.