That is great advise, forget the losses and let's focus on the process not the outcome on future trades you take.

Thanks Robert, thats my plan as for the rest of 2019 lol, 100 a day builds the account, and paves the way for jumping to full time.

@Fernando Samora We've all been there! You are definitely not alone. I would suggest forgetting about that loss. The moment you start thinking about "making it back" is when emotions enter the equation again. Focus on trading small and trading well. Your recovery plan sounds like a good start. Also look into Risk Controls to prevent these types of days from occurring. Best of luck.

Thanks Norm. New rule for the time being is 2 trades MAX per day. 100 USD goal per day. Just realized its around 20k per year. So for my first year that would be amazing since im still holding on to my current job.

Keep your head up, Fernando. We've all been in that place at one point in our trading careers. You have the right thoughts moving forward. Reduce size and goals as you get a feel for trading live money.

When first starting out or learning a new strategy, I would suggest respecting your original stop loss. This way you can get a feel for the signals that appear when the trade falls apart. As Mark Douglas recommends during the 20 trade exercise: make it mechanical and limit decision making. As you gain experience, you will start observing the above indicators that reduce the probability of your trade working out. This is where intuition allows you to get out of a trade early. Remember that you can always re-enter as commissions are cheap. The danger when doing this as a beginner is that it leads to getting chopped up and/or revenge trading.

To start off, I did not see the word ''Journal'' in your initial post and I think this is where the problem is. Here is a list of things you can watch IF you have been journaling your trades : 1) Your stop loss : where are they situated ? in air ? on feeling ? on a technical indicator ? a price level? new 5 minutes high or low ? It needs to be somewhere for a reason 2) Your entry: Do you anticipate or enter when lvl breaks? On moving average ? Important lvl of Support and resistance ? 3) Your Sizing according to stop : Do you stop out BEFORE your actual real stop ? 4) Your trade management wich include the way you scale out. Wich can make or break your overall profit and Risk : reward 5) The stocks you decide to trade, Whats the float, did it gap up or down more than x% ? 6) What patterns are you trading ? Are you going with your mood, experiencing, or do you have ONE OR TWO pattern that you are trying to master 7) are you revenge trading ? Are you chasing ? are you averaging down ? 8 ) Whats your Win Rate % ? 9) What is your average winners $ ? 10) What is your average losers $ ? 11) Do you cut your losses ? If you Risk 1% per trade, aiming for 2:1 Risk:Reward, and your Daily Profit target is 1% , it doesn't make sens, your target should then be 2% daily AT LEAST Here is what I came up with : I calculate everything in ''R'' wich is What I risk per trade in $ (mine is 30$ for now with a 3.5K account) lets say 1% then RISK PER TRADE : 1R MAX DAILY LOSS: 2.5R ( Why not a round number ? Because sometime trade is just no going anywhere and I get out without it going to my stop) DAILY GOAL : 4R ( To me it is not to high because of my style of trading wich is more riding the trend for big bucks) A scalper/momentum could go for 2.5R or 3R WEEKLY GOAL : 10R PS: Daily Loss and Goal are calculated INCLUDING Commissions When I will be +10R for 2 weeks in a row, I will then up my ''R'' to 50$ instead of 30$ and so on my boy so stop thinking 1% a day is not high enough becasue it is only 50$, when this 1% be equal to 250$ instead of 50$. Thats some serious money. NOW My question to you is what is YOUR bread and butter pattern, where is YOUR edge in the market !? A) Do you prefer to ride the trend or take reversals ? B) Are you more of a ***Scalper ( in and out in seconds ) ***Momentum trader ( couple minutes ) ***Longer Term ? C) What pattern do you like the most, fits your personnality the most ? Stick to it, master it and inscrease ''R'' when you have concistency. Feel free to email me @ [email protected] and Congratulations on your english, it is pretty good Since I started to work harder, I started to be luckier! 🙂 See you in chat Monady