You've made some progress, anyway: you've now identified clearly the two main things you need to change radically, in order to have any realistic chance of trading successfully in the long term. Sorry.
Margin level percentage 500% safe or not ?
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You've made some progress, anyway: you've now identified clearly the two main things you need to change radically, in order to have any realistic chance of trading successfully in the long term. Sorry.
lol thanks il keep you updated;-)You've made some progress, anyway: you've now identified clearly the two main things you need to change radically, in order to have any realistic chance of trading successfully. Sorry.
So would we all, but it is not. Risk is real, like the money in your live account.
You are missing a big psychological component of trading here. If you have a huge amount of money in your account and can tackle keeping your losses small, rather than putting in a small amount and not caring if you blow out, you will be strengthening your mental discipline and risk management. From what you have indicated, you seem to be trading with a care-free blasé attitude. This is totally unhealthy.
Getting a hefty profit percentage is irrelevant. Getting profit is the only relevancy. Forget percentages, that is just a fanciful numbers game that feeds the ego. Believe me, I know. My profit percentages based on my account size is pitiful. But it is still profitable. The equity curve is still going up. How fast and efficient it is going up I don't care about. It is not a speed contest to feed my ego, it is a business.
You're on tight margin levels no matter your account size. Think like that and you may use more caution in your system.
If you feel your system is suiting you, then that is a conclusion only you can reach. Nobody else can reach it for you. But in general, I think many folks here would agree that the approach you are using is wrong. Only you can find the proper balance between what is right and works, and what is wrong and doesn't work, for you.
Risk is overrated until it's not. Once it's not, it's never underestimated again.
Your strategy of using a small account size and working with tight margin levels has validity. In some respects, it's psychologically easier to recover from drawdowns and less risky to grow capital, then when one begins with a large account balance.
When starting out, using lot's of leverage is very seductive when profitable and down right terrifying when trapped on the wrong side of the market.
It's being on the wrong side of an extended market where one begins to re-examine their preconceptions around risk and how to manage it.
hefty percntage was just a metaphor in this scenario it has nothing to do with feeding the ego
what you said is reasonable however
I like to call this stress free rather care-free care free means gambling and entering a position without studying it before
mental discipline and risk management are huge issues need to be dealt with I agree you cannot continue any account whether its small or big without having mental(professional discipline) and risk management
what you said is reasonable however
I like to call this stress free rather care-free care free means gambling and entering a position without studying it before
mental discipline and risk management are huge issues need to be dealt with I agree you cannot continue any account whether its small or big without having mental(professional discipline) and risk management
Try it this way...
If you knew you had a $20 bill in your pocket, and shuffled around in that pocket for some change or your keys, etc, and the $20 bill fell out and blew in the wind into a sewer, or into a fire, or someone else picked it up, would you be care-free about it? Would you feel stress?
If you answer no to either of those questions you might have an issue, or a huge bankroll where $20 means nothing to you. If it is the latter, then the discussion is moot.
We're all human, man.
BAM! That is progress! Good to see.
New traders, or any traders, shouldn't worry too much about margin, or leverage, or cash accounts, and other technical non-sense like that...
But instead focus on your ability, or lack thereof, to predict and/or manage the future.
If you don't have a crystal ball, or yours is dirty or cloudy...you're fucked either way.
That's like having the funds (or connections) to go to Harvard, but your dumbass is too dumb anyways once you're there.
Make Trading Great Again, high-five Xela
But instead focus on your ability, or lack thereof, to predict and/or manage the future.
If you don't have a crystal ball, or yours is dirty or cloudy...you're fucked either way.
That's like having the funds (or connections) to go to Harvard, but your dumbass is too dumb anyways once you're there.
Make Trading Great Again, high-five Xela
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if that 20 dollars fell in the sewers someone took it i will definitely feel bad and the urge to hit that man who took my 20 bill bottom line yes i do care about not losing 20 bill however if i lost it while trading yes it will feel bad but you can spend that 20 in too eating a meal or buying something with it however if i can learn from my mistakes id consider this 20 an investment too if this 20 will urge me to read and search and dig more in this business
Another good comment. You may be on your way.