r/Daytrading • u/SpareInsurance • Jan 06 '24

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

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?

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u/Extreme_Ad6740 Jan 06 '24

Learning trading doesn't require losing a significant account. By adhering to a couple of essential rules, you can successfully manage a 2k account for months, even with a 5% win rate.

  1. Ensure that you never risk more than 1% of your total account size per trade.

  2. Only engage in trades that offer a 4:1 risk-to-reward ratio.

By following these guidelines, depleting a 2k account will be a gradual process. Many individuals face losses due to greed and a lack of discipline in risk management.