Go offline with the Player FM app!
How I Lost $35,000 in a Day and Still Came Back Stronger
Manage episode 476038735 series 3547803
Trading success requires proper education, risk management, and understanding your financial goals before investing real money in the forex market.
• Financial freedom is the ultimate goal of forex trading - working from anywhere while making enough to cover expenses
• New traders must prioritize education and finding a good mentor before placing trades
• Using a small live account rather than a demo helps develop crucial emotional stability
• Professional traders experience significant losses too - one trader lost $35,000 in a single day on gold
• Risk management means knowing your monthly expenses and targeting realistic returns (10-20% monthly)
• Finding your niche can lead to consistent profits - for some traders, gold becomes their specialty
• Understanding lot sizes and leverage is essential - higher numbers mean both higher reward potential and higher risk
If you want to learn more about forex trading, take time to educate yourself, find a regulated broker, and practice with appropriate account sizes before committing significant capital.
Support the show
Watch the video episode of this on YouTube - https://linktr.ee/konnectedminds
Chapters
1. Account Size and Financial Freedom (00:00:00)
2. Steps for New Traders (00:01:05)
3. Demo vs. Live Account Trading (00:03:01)
4. Worst Market Losses and Recovery (00:06:10)
5. Best Trading Moments and Favorite Pairs (00:09:32)
6. Understanding Lot Size and Leverage (00:11:15)
134 episodes
Manage episode 476038735 series 3547803
Trading success requires proper education, risk management, and understanding your financial goals before investing real money in the forex market.
• Financial freedom is the ultimate goal of forex trading - working from anywhere while making enough to cover expenses
• New traders must prioritize education and finding a good mentor before placing trades
• Using a small live account rather than a demo helps develop crucial emotional stability
• Professional traders experience significant losses too - one trader lost $35,000 in a single day on gold
• Risk management means knowing your monthly expenses and targeting realistic returns (10-20% monthly)
• Finding your niche can lead to consistent profits - for some traders, gold becomes their specialty
• Understanding lot sizes and leverage is essential - higher numbers mean both higher reward potential and higher risk
If you want to learn more about forex trading, take time to educate yourself, find a regulated broker, and practice with appropriate account sizes before committing significant capital.
Support the show
Watch the video episode of this on YouTube - https://linktr.ee/konnectedminds
Chapters
1. Account Size and Financial Freedom (00:00:00)
2. Steps for New Traders (00:01:05)
3. Demo vs. Live Account Trading (00:03:01)
4. Worst Market Losses and Recovery (00:06:10)
5. Best Trading Moments and Favorite Pairs (00:09:32)
6. Understanding Lot Size and Leverage (00:11:15)
134 episodes
Semua episode
×Welcome to Player FM!
Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.