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Mind Over Markets

Tips to Prevent Account Blowups

Aug 5, 2021
34:58
In this episode we talk about 6 tips to help you prevent another account blowup. When traders lose all their capital, it can be a very emotional time. And of course, everyone knows the obvious - if you can improve your risk management, it should never happen again right? Wrong. There are many psychological and technical reasons that traders blow-up their accounts.  I share with you 6 tips that will help you get to the root cause and make foundational fixes.   This episode includes discussion on:
  • Starting capital for new traders - the answer will surprise you
  • Scaling your trading, position sizing and growing your account
  • Setting daily drawdown, limits and how to use your broker for help
  • The surprising benefits of an accountability partner
  • If it's broke... don't fix it yet - how to overcome challenges the right way
  • Why YOLO'ing your trading account will never work out - even if you made $10,000,000 overnight
This episode WILL help you come to powerful realizations and create lasting change. I hope you enjoy listening to this week's show.   Resources

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