Losing is part of the game but recovering is not an easy task and requires smarter trading decisions.
So if your trading account is down 50% after 2 months, you’ll have to double your remaining equity to break even.
Making mistakes is normal but rather than give up, try to learn something from your own trading mistakes, bad strategies, emotions etc. When you have no other source of income and you only rely on speculative gains in the most volatile market, tension will most likely increase dramatically, leading to irrational trading decisions.
This entry was posted in Forex education and tagged Albert Einstein, keep it simple, tips for traders, trading education, trading for a living, trading lessons, trading mistakes, trading practice on December 18, 2010 by Liviu. This is a very good set of trading lessons that we can learn from, and may I say good set of illustration, it gets your imagination working not your typical boring article, this is really a good one. Warning: All the information on this site is provided "as is" for INFORMATIONAL AND EDUCATIONAL PURPOSES ONLY, not intended for trading purposes or advice. I think the best lesson is the one about work so many people want to quit there jobs right away and i say that it is better to work and build up equity while trading. Over-trading, scalping, over-leveraging, random decisions, greed and the mirage of getting rich quick will turn trading into gambling.
It'll be the very first thing I recommend to anyone I know who wants to get in to trading, hands down.
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