“Risk management, patience, discipline, and consistency are key to success in trading, period.”
When I was not consistently profitable, I didn’t understand what people meant by the phrase above. But now, I can’t stress this out enough how important they are. I am not saying that I know everything, but I mean I still constantly applying this philosophy on my trading every day. And I am always the student of the market.
Some advice for the funded accounts:
– Risk no more than 0.1% – 0.4% risk per trade (depends on your strategy and holding time length)
– Do forward testing to measure out your performance for at least six months ( then adapt your risk to CTI’s drawdown target (4%))
– If you are on a losing streak, don’t stop trading altogether, just reduce risk and position size. No one wins 100% of the time, but no one loses 100% of the time, either. Trade through the losing period. (4% trailing drawdown is tough, so reducing position size will allow you to recover easier.)
– Don’t give up.