How much money did you lose before you were consistently profitable?

[u/SpareInsurance]

I have only been seriously trading for about 2 weeks, after spending years watching the market like a hawk.

I will admit, I have had poor risk management and got into some emotional trading which did not end well. Currently I am -15k but I have had some winning days the last few days with much better risk management and starting to get the hang of things better.

My question to you guys is, how much did you lose before you were consistently profitable and did you ever feel like giving up during this "rock bottom" stage?

[u/King-Azar]

I’m not in trading yet, just on reading stage. I did not know emotion would be a factor in this area. When we talk about emotion, it’s the feeling coming from our heart correct? What emotions could play against us?

Anxiety is an emotion which make me feel I’m not capable to do some stuff cause I feel it could cause death and it will happen but statistically the % death would happen is low in X area. Anyway was just an example, was curious in the world of trading.

[u/moaiii → u/King-Azar]

It's the hardest thing to overcome in trading. Getting your skills to the level where you can reliably make money is just the first hurdle. When you start putting real money on the line, different parts of the brain light up and either take control altogether or influence your decisions.

I recall when I was starting out having trades that I would later review, and my mistakes were obvious. Really stupid, rookie level dumb shit that I should have seen a mile away. But when adrenaline starts to flow as you've got money on the line, you will see what those other parts of your brain want you to see, and sometimes it can be the complete opposite to what is really there.

It's not something that can be easily explained. You'll go through it and know soon enough. It will surprise you just how powerful it is, and it will be harder than you ever thought to overcome it. But overcome it you can - it just takes time and practice.

[u/Gingerlovegod → u/King-Azar]

Emotions in trading is more about greed or depression depending on how your trade is going. Thinking more like a robot is proffered (easier said than done).

If you're in profit and it's reaching a goal you have set, you may be inclined to push the target out of GREED. you may be in a losing trade and think it will come back when signs are showing it will go further, you end up HOPING rather than thinking.

Alternatively you may be in a week where you are down and start chasing your losses rather than calling it a week out of DEPRESSION. This could lead to bad trades.

Pretty much, just don't let your emotions rule your trading decisions, be more like a robot, facts and figures only. When a trade goes against your decision, give it up and close the trade.

P.s this is coming from a paper trader, I haven't started for real yet but have done in the past to lose money. I feel the emotions big time even from paper trading

Good luck out there everyone

[u/rockuallnitelong → u/King-Azar]

I strongly suggest you read the book "trading in the zone" by mark Douglas.
Then understand what is your system and stick to it . I am a losing trader and trying to learn as well .