Just Starting Out? Only Risk What You Can Afford To Lose!
Boss Move #02
If one loss is going to have you eating noodles for a month, or even a day your risk is too big.
If you're going to lose sleep over it ... you shouldn't be risking it. Don't trade with your ego, you will be setting yourself up for failure.
It's a classic beginner mistake.. especially if you've had a couple of good trades, then bam risk it all and it's all over rover! New traders blow accounts by risking too much too soon. I've been there, bought the tshirt, and even went back and bought another 😆
If a single trade makes you anxious, you're risking more than your account can handle. Small position sizes keep your emotions quiet — and quiet traders last longer, and are more confident in their trades.
Start trading with a demo account and keep a trade diary! Notice the patterns and then start with real money once you have some confidence!
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