
Incoming... long post/rant. Today was a horrible day of trading for me and I whipped out a months worth of gains over it. I see why all the sayings are said. "This is a marathon not a sprint", "90% of traders fail", "Cut losses quickly", "Stay discipline", "Don't follow anyone into a trade". I fu*ked up the moment I got out of bed this morning. I was so tired and had the mindset of going big on one trade, taking a 5% winner and going back to bed. THAT'S NOT HOW TRADING WORKS. This isn't some get rich quick scheme. This truly is a marathon and not a sprint. Its taken me a month of trading to gain $600 profit and 1 day to loss it all. Had I followed any of my rules I should have only lost $125 MAX and had the rest of my cash available to trade with the potential of going back green or at least lessening the blow. My rules that I broke today: 1.) Know your risk level and stay discipline. 2.) Take emotions out of it. Accept your SMALL losses. Don't be greedy, small gains add up! 3.) NEVER follow someone into a trade because you're eager to get into a position. Wait for YOUR setup. 5.) Never take a position greater than 25% of your account. 6.) Give yourself the opportunity to take an afternoon trade. 7.) Be patient but don't be stupid 8.) Know when to walk away. (in both directions!) I BROKE 7/8 OF MY TRADING RULES AND LOOK HOW IT TURNED OUT (1 of them wasn't applicable so I broke all of them). All because I wanted to make a quick buck and go back to sleep. Fu*k it... don't trade for the day! Stay asleep and be smart about it. AGHHHHH.
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