Confessions of a British futures trader

In the first year of trading, I lost more than 60,000 pounds, what did I learn? M y In my first year in the London futures market, as an on-site independent trader, I bought and sold 8804 UK stock index futures contracts, an average of about 40 contracts per day. The result is that I lost £61,620 – an average of each trading day Lost £267. I was profitable 55% of the time, and on those days I made an average profit of £1009 per day. On other days I lost money, I lost an average of £1780 per day. My most profitable day was £8730, and I lost the most I lost £22,426 in one day. So, as you can imagine, it was a very difficult time for me. But stability seems to be the hardest thing to do. As you can see, I have Successes, yet my failures suffocate me.

It seems that every time in a week or two, I make about 6,000 pounds, and after a few days, I will lose all the gains, and even more money, about a few thousand GBP.At that time, I was so dissatisfied with my performance that I didn’t want to take the time to analyze it. If I had done the analysis, I would have found that during that time, I just avoided Then with a loss of ten days, I can achieve a small profit at the end of the year, instead of a loss of 61,620 pounds, in those 10 days, I lost 90,169 pounds A In the last days of that period, I felt very lost and irritable. I decided to quit the field of trading and find a more stable and reliable job. But after only a few weeks, I gave up on not being a trader anymore and went back to trading. I decided I had what it takes to be a successful trader with consistent profits and I figured all I needed was some sponsorship. I hope someone can help me stop having those days of huge losses that cost me financially The situation tends to collapse.

I approached a company that was willing to back some experienced traders and they agreed to lend me £20,000 as a starting capital. We divide into six or four. I promised that I must keep my losses within £500 a day. If I lose £500 in a day, the company site manager will come and call me home. On the third day, I lost about £500, but nothing happened, no one came to tell me to stop trading. I felt stupid, but I continued to trade for the rest of the week while avoiding the manager. On the following Monday (that week The losses amounted to around £6,000), I was told, to meet the supervisor I signed the agreement with (in the last week, he happened to be on a business trip). I thought he was going to terminate our contract. However, to my surprise, he told me how important it is to be able to trust me. He said he needed to know that he could trust me not to pile up huge losses when the market was shaky. He advised me to do it all over again. Needless to say, I was very relieved and grateful to him. And just like that, I again Back to the trading floor. That morning, I made up my mind to keep the loss within £500.

The next two weeks turned out to be the hardest and most rewarding period of my career. It was very difficult to stop when I was losing money.I realized that the root cause of my huge losses in the past was that it was difficult for me to accept the result of losing money. For me, losing money is unacceptable. It is precisely because I am unwilling to accept losses that I lost money for ten days in a row. But as time goes by , and while I continue to lose £500 a day, I find that my mood is starting to improve. In fact, I started to feel that losing money was nothing, as long as it was within my limits. After these ten days passed, a miracle happened, and I started making profits. My goal is to make 2000 a day, and then do n’t I lost more than 20% of the money back. So, when I started to make a profit, I made 800-2000 pounds a day, an average of about 1200 pounds a day.YSHX Not only did I start to make a profit, but I did it for 15 days in a row. Loss!! This marked the beginning of a new chapter in my trading career. Looking back, I think I traded with the fear that I was really a failure During those harsh two weeks, strictly controlling the loss within the prescribed limit made me re-evaluate myself.

I’m starting to feel good about controlling and limiting losses. Before, whenever I lost money, I felt bad; now, I only feel bad when the loss exceeds my limit. Before, I never knew I was going to make £2,000, or lose £5,000; now, the worst outcome is a £500 loss, but that’s no big deal. I began to notice that it was a sign of ability to keep losses within my allowable range. My self-confidence has increased. Looking back at my first year of trading losses, if I had strictly limited my losses to £500 per day, then a loss of £61,620 might have turned into a profit of £63,525. Not only that, I think during that period, if my losses were kept within my limit, my self-confidence would be enhanced The more I do, the more profitable days I will be.When you are afraid, you will never win. If we are afraid, what is it that we are afraid of? yunshfx “Our greatest fear is not our own inadequacy, but underestimating ourselves. Often it is our potential power, not the darkness that frightens us. We ask ourselves, ‘How can I be so talented and so beautiful? Actually, why shouldn’t we? You are a child of God. Your self-contempt is not good for the world. Putting yourself down so that others around you don’t feel uncomfortable is not wise. We should It is not some of us but each of us to radiate God-given radiance. When we let ourselves shine, we unconsciously encourage others to do the same. When we free ourselves from fear, our actions automatically frees others.” – Nelson Mandela Whatever is the source of our fear, to be a successful trader we must Build self-confidence and overcome fear. Believe that you can take the best action.

When we trade with fear, our fear will make us take decisive measures Actions that cost us. The question is how can we build unshakable confidence? We believe in ourselves and we trust others in a similar way. If others always do what they say, we will He can be trusted. In the same way, the more we stay true to our goal of being a successful trader, always keeping our words and deeds in keeping with our trading plans and rules, the more we can trust ourselves. way I was lucky to understand that I had no way out and that if I crossed the line I would be kicked out. Therefore, I had to control myself. As a result of doing so, I had the opportunity to face my fears and finally get rid of the fear of being a loser. From a trader who is always losing money to a trader who is making steady profits, we need to set some desirable and achievable goals. My problem back then was making those small losses into big ones, so a £500 loss and stop trading was an appropriate goal for me at the time.

For others, the first problem may be a trader’s inability to strike decisively when it is time to act. In this regard, we can do an exercise like this: adopt a simple and clear trading system, set such a goal, and when the trading system Yun Shang Hui Xin Limited gives a buying and selling signal, take action immediately without hesitation, no matter how much you hesitate in your heart.

We need to develop our trading skills one by one. When we can be sure that we can control losses, we train ourselves to execute trading orders. Then, we retrain techniques for increasing profits, etc. Like tennis stars, they don’t become stars just by participating in competitions, they train each one top by top on the practice range It is a skill that you have to train yourself continuously throughout your career. As a trader, we also need to figure out the various skills we need, and then concentrate on doing targeted training one by one. They know that they have to spend a considerable period of time learning and practicing. Trading in the financial market, like playing tennis, requires skills. And these corresponding skills can only be mastered through continuous learning and training.

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Created on May 20th 2023 09:50. Viewed 45 times.

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