Risk Management and Emotional Control in Day Trading Forex

It’s been a rough ride these past nine trading days. I haven’t been blogging my daily trades because I blew up my account. Well, technically, I didn’t blow it out entirely, but I did exceed my Max Daily Loss limit of 5% of my equity. During this time, I was day trading using an FTMO Free Trial account to practice with their key rules on risk management and emotional control. Unfortunately, I let greed take over. I was on a winning streak and decided to push my luck, which ate up all my gains for the week. I never seem to learn, do I?

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Paper Trading Day 8: Top Day Trading Forex Strategies for Consistent Profits

Today, I made a profit of 2.59% by employing a scalping strategy, my preferred trading style. I focus on quick in and out trades, aiming for a 1% gain per trade. If I reach it or more in one trade, I stop trading. Conversely, if I lose 1%, I also stop and come back the next day. I also use breakout trading, adding another layer to my approach.

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