New to Futures, but Hitting the Wall | Psychology and Money Management


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Psychology and Money Management


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New to Futures, but Hitting the Wall

  #5 (permalink)

Legendary Market Wizard
Dallas, TX
 
Trading Experience: Intermediate
Platform: NT, TS
Broker/Data: IB, Oanda
Favorite Futures: ES, MES, MNQ, MYM
 
kareem40's Avatar
 
Posts: 653 since May 2010
Thanks: 1,737 given, 864 received

Hi
Welcome. I think your goal for the first couple of years is not to lose money and blow up your account.

There are tons of do's and don'ts. The best advice I can give ( already mentioned above) for new trader is:

Trade very small ( micros with a 5-10K account)
Add only to winners.

Good luck,
K

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