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Ice Cold Traders
Posted On: 11/29/2012 10:42:41 AM
Post# of 474
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Posted By: coolnapz
Re: hyrpowr #279

Focus on percentages. If you can make 11% with 600 bucks, you can make 11% with 6000 bucks, 60,000 bucks, 6 million bucks. Let's be honest, trying to get rich off of a small account means you will have to incur an unfavorable risk reward ratio. If you go for 100% returns every time and such, that means that you have to accept the fact that you are betting it all every time.


Go for percentages for now. If your goals is in fact to become a real trader or just become pretty good at managing your money, you have to understand that it takes years to develop those skills just like becoming a doctor or lawyer.


I personally blew out multiple accounts during the learning process because I tried the get rich quick path instead of accepting the fact that this was about learning.


When you take half off and leave the rest on break even you have a guaranteed winning trade. Think about it, a guaranteed winning trade. This is the point where I start scouting around for other trade setups to do it all over again.


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