Disliked.Another question if I may, but a little more subjective, When is one 'ready' to trade larger sums?....Ignored
QuoteDisliked1 year of chart time, 5 months in this forum and I believe I am 'ready'.
QuoteDislikedThe last month or two have been particularly good and I feel that I have come a long way. However, when I see a good setup, I get cold feet and put a micro trade in only to see it do what was expected (Well, far more often than not).
QuoteDislikedI know that there is no easy answer and that it's all subjective, but it's proven to be my largest hurdle
QuoteDislikedTodays volatility has only made me more eager, but I am still filled with scepticism.
& 'large' account is relative too. (as an Asian, i believe $10,000 is a relatively huge/very large account in most Asian countries; whereas in more developed countries, $50k to 100k is an average/relatively large account)
1 year of chart time may or may not be enough.
i believe 1-3years experience is a minimum to get good at this: 1-3 full years of chart time, live &/or demo trading, reading, & practice. (how many years it took u to become a good architect?)
the bold phrases above tell me u are either unready or u still got a few things to iron out. (btw, IMHO, the largest hurdle is consistency or consistent excellence, & not a large account nor on deciding to have one)
u will know when u are ready --- your experience will tell & prove it to u.
for example, yesterday, i had lost 8% of my account (i trade quite aggressively). in about 1-2 hours i recovered about 90% of it. in the recent past/years, it would take me weeks, often months to recover from such a scenario.
in almost everything we do, there is a process that we have to go through:
for babies, they need to be able to balance their head first... then crawl, stand up, walk, run, jump, etc...
u are a great architect, look back on how u progressed:
when designing a house, u brainstorm, draw it with a pencil (did u?), CAD drawing, brainstorm some more, apply changes, then execute ... then u design small houses first, before u attempt bigger houses/buildings etc.(something like that, right..)
your experience & progress will show u. u need to be honest with yourself so u can make a good assessment of your trading situation.
once u feel u are ready, go ahead, trade a slightly bigger account. test. see if u are comfortable & able to trade it well & consistently well... trial & error.. rinse & repeat.
just my view...hope this helps! Good luck!
DislikedJust had my worst trade and first major broken trading rule in quite a long time today... so what did I do?
..............
Tonight call for some drinks to bury todays misery
....Ignored
a great weekend to all!