In this episode we talk about 6 tips to help you prevent another account blowup.
When traders lose all their capital, it can be a very emotional time.
And of course, everyone knows the obvious – if you can improve your risk management, it should never happen again right? Wrong.
There are many psychological and technical reasons that traders blow-up their accounts. I share with you 6 tips that will help you get to the root cause and make foundational fixes.
This episode includes discussion on:
- Starting capital for new traders – the answer will surprise you
- Scaling your trading, position sizing and growing your account
- Setting daily drawdown, limits and how to use your broker for help
- The surprising benefits of an accountability partner
- If it’s broke… don’t fix it yet – how to overcome challenges the right way
- Why YOLO’ing your trading account will never work out – even if you made $10,000,000 overnight
This episode WILL help you come to powerful realizations and create lasting change.
I hope you enjoy listening to this week’s show.
Resources
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- Connect with our community online: Trade Pro Academy
- Catch up with our earlier episodes: Mind Over Markets Podcast
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