Great advise !! I've seen many traders just getting rekt after making a really nice profit thinking that they have the perfect formula and then go in big and the markets move totally opposite of them.
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Great advise !! I've seen many traders just getting rekt after making a really nice profit thinking that they have the perfect formula and then go in big and the markets move totally opposite of them.
Yes, same here. I made like huge gains when I was a newbie(more than 60x gains on my capital).
On percentage terms, it looks huge, (maybe thousands of percent)
But, I felt that pinch when I lost almost 70-75%, which is again, a huge amount and then I learnt my mistakes last year :)
If you have $100, you can win 50% and get $150.
But Very few people understand that math, from that amount, if you lose 50%, you have $75 remaining :D
Managing money to minimise risks is the best way out imo, and be profitable, which no one will teach explicitly.