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1- profit plan
2- stop losses
3- disciplines
I think these 3 are fundemental for a trader,
I had a mini account with $3000 ,my profit plan was taking $100 per day with 4 or 5 trade in day and stop losses witn 10% of my equity .
my system worked for 10 days very good.but one day I got a position with Gold,I took a profit with amount of $500 ,wowwwww
it was great,
I forgot my plan and my strategy.
in less than 24 hours I became MARGIN CALL.
yes ,it was a big lesson for me,
I will restart with a standard account and I never forget this
good luck
svahid
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