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Try to lose less vs making more, a secret to success

Updated: Sep 17, 2022

Mostly people talk about how much money they can make in market. For example they want to start with $5K and lose all trying to turn it to $100K. Switch that goal and set a fixed max loss/ drawdown point that you can lose per day/week.

This will depend on your individual account size and risk.

The exercise is simple, and assuming you have $5K account. Whatever setup you currently use to trade everyday, keep using that setup and set a max loss limit of $100. If you hit $100 loss. Don’t trade anymore for that day. Come again tomorrow. You’ll be more cautious this time to take the right setup. If lose $100, don’t trade anymore for that day. Everyday your vision will be clear and you’ll see setup from all angles and start making profits. Book profits based on your plan for next 30 days. Just fix the downside to $100 Max loss per day.

I understand this is easier said than done but give it your best shot. If you can follow then below are the benefits you’ll get during or by the end of exercise.

1. You’ll become more disciplined Trader.

2. You’ll see improvement in the quality of your setups.

3. You’ll avoid trades that are not fitting your criteria.

4. You’ll stay away from FOMO and will become emotion free trader.

5. Most importantly your account will grow.

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