How to Stop Making Mistakes

Brian Lee is a consistently profitable trader. He started in the gaming industry as a professional Dota 2 player as a part of the Team Liquid. He quit pro gaming as he wanted more flexibility with his time, and the stock market gave him just that. He invested his money into a trading account and started his journey day trading.

Last year he changed the way he was managing risk by setting a max loss with his broker. There were a few reasons for that. His account grew bigger over time, and he started experiencing liquidity issues, so trades were not always getting cut right on time. Additionally, he got into a habit of bailing himself out of big losses by averaging instead of just cutting the losses.

Eventually, he was stopped with his broker one time when this scheme backfired and the losses were too big. Ever since then he’s been sharing his experience with risk control, as that was the information less talked about at the time.

We chatted about relying on the systems for risk control and taking the human element out of the situations where we are prone to emotional response. We also talked about PDT, mentorship for the beginner traders, and the mental component of trading.

Check out the full interview below. Like and comment, and stay tuned for more interviews with experienced profitable traders!