6 Signs Your Trading Size Might be too Small
At the start of our trading journey, it is a very common problem that newer traders use too much leverage. Why? They are excited, they are new, they don’t know what they don’t know, and they just want to make a lot of money. They want the kind of returns people with 5, 10, 15 years of experience are making - and they want it TODAY! So they trade big, and inevitably run into a bad trade…. Often just one single one… and lose a large part of their trading account. They are shocked! They are stunned - they become fearful, and become paralyzed by risk. Then immediately cut down their trading size to the lowest amount possible. But the returns are now SO SMALL - that it will take them 50 years to earn back their one trade loss. This really crushes your confidence. So today I want to discuss a few scenarios that could indicate you’re trading too small: You are moving your stops to increase risk when a trade goes against you You are moving your take profit orders when price gets close to them You get into a trade expecting to lose, to get your stop hit Your winners are small, but your losses are huge You are trading money you cannot afford to learn with You turn a day trade into a warren Buffet investment These are the 6 signs we go deeper into, and explain how each one may be impacting your trading and what you can learn from it. I hope you enjoy the show. Resources Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here.