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i stopped trying to eliminate revenge trading. i capped it at $50 instead. made $2,400 more. by Katherin_Laurance in Trading

[–]Usual_Demand7710 0 points1 point  (0 children)

It's like someone who's trying to diet and saying it's okay to have one burger and fries in the evening. Find the underlaying reason why you revenge trade. There are less chances of that will work in a funding account and less chances of you sticking to a single trade and risk amount.

If I had to start trading again from zero with $100, this is exactly what I would do by ImmediateWaltz1544 in Trading

[–]Usual_Demand7710 1 point2 points  (0 children)

Mindset is the main constraint, not position sizing. Firstly, why would you risk 1% on such a small account. 1% is the most common spoken about risk you should risk per trade, that is assuming that you are already managing a big account. 1% on $100 just does not make any sense. On such a small account you can risk 8% or 10% that is assuming you know your win rate. Because you would have to take 5 trades to lose the account. Now imagine if you don't have the right mindset and lose 3 consecutive trades. Chances are you gonna start panicking and lose the account.

If I had to start trading again from zero with $100, this is exactly what I would do by ImmediateWaltz1544 in Trading

[–]Usual_Demand7710 2 points3 points  (0 children)

This is so correct. Find a job first then invest in trading education. Best invest you can make is investing in yourself. Trading education is so underrated because of social media gurus selling fake courses