I’m a young guy who’s 20 years old working at SAB brewery . I currently live in Johannesburg was born in bergville . I started trading in 2017 but it was not full time . 2018 also I was trading but here and there I have been blowing accounts for 3 years now and I still keep trying . I just hope to hit my breakthrough I know there’s something I do wrong .
The reason why traders blow their accounts is that they do not manage risk. If you only trade 1% risk per trade with a strict daiily limit of 5%, you’ll still be in the game when others fall by the wayside.
Analyise what mistakes you made - e.g overtrading, revenge trading and gambling. Not cutting losses early, but letting them run in the hope they’ll miraculously turn in your favour before they hit the S/L. And conversely, not letting your winners run, but cutting them off early because of fear of missing out on a profit… Humans will do anything to avoid pain.
Definitely agree with Steve. I think there’s nothing wrong with not giving up and trying again.
But it would be better to use these past blown accounts as a learning opportunity and really analyze where things go wrong.
Good luuuck!
Did you blow demo account or real account?