Start with a small amount, that small amount that you will not keep thinking and worrying about am I going to lose half of it, am I going to lose all of it.

Put that amount that even you know that if you lose everything, you are still good to go okay.

Start with that then you continue to do another ten-twenty trades, okay, you still get a flow, and hey I’m still able to do all this follow my plan accordingly, and I’m still generating positive returns, maybe small little positive returns are fine, at least I’m not losing money anymore.
That is when only you start to increase the amount of money you put inside your capital.

An important thing here is that when you increase the money in your capital right, in your account right, don’t one-shot increase a lot okay because one shot you increase a lot, your psychology cannot handle that huge amount of money coming in right at the same time because it will become a big pain for you, a big burden for you okay.

So the trick is to increase your capital size gradually and meanwhile your process, your best practices still follow no change okay.

So this is how you slowly build your competency from loss-making to potentially okay not losing money, to being able to make money okay.

So that would be my suggestion for you, and I strongly encourage you to go through the process first. Don’t worry about so much about how soon can you make money because the thing about trading is that you need to build up the skill and competency, learn how to protect yourself, learn how to protect your capital before you think about how you can generate the maximum returns from it.

Most people come into trading because they want to generate high returns straightaway and that’s the reason why you fall into the trap of the first few trades that you did because you are thinking about how much money can I make.

By the time you realize that wow this is the amount I can lose, it’s too late.

So you don’t get into that stage because if that happens to you again, I tell you, you’re going to quit trading for another few years then after that, you will come back again, you’re starting from zero again.

So rather than going that place to zero to that place to zero, you might as well start from zero slowly one two three four five.

Interested to receive mentorship opportunities like this with Philip?

Find out more at traderwave.com/innercircle

Philip Teo

Founder & CEO at Traderwave Pte Ltd
Philip Teo is an entrepreneur, speaker and trading coach who specialises in the field of Technical Analysis of the financial markets. He is currently the Founder and CEO of Traderwave Pte Ltd, a financial technology company that offers a web charting application to global traders. He has conducted many trading seminars and appeared on national television before. He is also currently an official speaker and trainer with SGX Academy. Learn more about him at his Google+ Profile, LinkedIn Profile and Facebook Profile

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