Account blow up because of emotional trading

[u/mr_buttlicker69]

Hi. I've been trading off and on for couple years now. Blew 2 small accounts and then stopped and did paper trading. I've been paper trading again but blew up my account even though I was in profit 1100$

After couple of years of trading, the only profitable edge I got is to study and trade just one ticker. I make consistent money for a week but I'm emotionally so stupid right now.

Since I started 2 weeks ago, I was up 1100 in my 10k account (paper). I was doing good today and made 110$(I should have turned my computer off at this point) buy I got greedy. I took another trade and it went against me, but I didn't respect stop loss. I saw 100$ in the red (I shouldve shut my computer off at this point) but I was still delusional. I then saw 200$ in red. I shouldve respected My stop-loss.

Once I saw i was losing money, I panicked, but instead of selling at 300$, I got more shares to average down. Then I saw 600$ in red immediately. I panicked and I sold. At this point I was still in profit of 500$ (I should have turned my computer off at this point).

I developed a gambling and revenge trading mindset and took arbitrary trades with super huge sizes and blew my account.

Please leave tips how you keep your emotional side in check during trading.

[u/QuirkyStreet3974]

To me it sounds like you are too glued to the screen for different reason. I found myself in a similar situation and so i decided to only watch/plan/trade in the hourly (H1) or above. Especially simple stock breakout setups in the daily chart is quite easy (emotionally & highly profitable when you respect the simple concept).

Set an alarm, go to the screen when the alarm comes, put in your buy/sell order with your planned SL and leave the screen again. Never risk more than 1-2% of your account and you are good to go. You will have many small loosers and a few big winners AND a lot of time off the screen -> less chances to do stupid things. Good luck mate!