"When I past this $ level" --do you struggle with this? If I just can pass $1,000 or $2,000 or $10,000 or $50,000 I'll make... OR "If I can get that first big win" if I just win $500, $1,000, $200 etc in first trade all others will be winners as trade more comfortably etc.. --which is more issue?
Neither one. Main issue would be to get a positive expectancy system or rules going that can put you in green on a consistent basis plus focusing on changing market conditions so that you recognize plays as they happen. After that's done,you can always load up the boat and up the size. Just my 2 cents. Cheers, Max
If I had concentrated more on smooth equity curve instead of money, it would have taken less time to learn how to trade. What I didn't understand in my beginning, equity curve is an indicator. Only think about your current trade, just points per contract or cents per share and not the money, that will mess with your head too much.
None...you only think that way when going to Vegas. When you trade the only thought in your head should be "Dont lose"
Yeah, I just started trading and one of the lessons I have learned is: Don't get greedy. I.E. I quickly made a 20 percent return on an option but noo I got greedy and I wanted to make more; soon the price of the option sank and I was down 200; yesterday I broke even but got greedy again I wanted to make a profit and today I came to my senses and sold it for an 80 dollar loss. So moral of the story don't get greedy and sell when your in the green.