Here’s how trading begins and evolves for most successful traders:
Losing all your money every trade
Depending on how quickly you adjust your risk management style, this phase can last for months, or even never end. FOMO helps encourage this phase by selling bottoms and buying tops. You risk your entire account on one trade trying to win the lottery. This is closer to gambling than it is trading.
Breaking Even (BE)
Phase when risk management begins to work but starting to become too risk…