Last week was a good milestone for me because usually, my total monthly income (writing, acting, and trading) is around $1,500. But this time, I made a profit of $1,500 just by trading, which was a good and unforgettable experience for me.

In this article, I will tell you about my last week’s trading experience, how I made this profit, what the right decisions were, and what I learned from the errors.

The beginning of my trading journey

When I started trading, I had no idea that this path could be so difficult and challenging. There were hundreds of strategies, platforms, and ideologies, but the biggest question was which method would be right?

I have been profitable over the last 3 years, and this time, I started a new account with $20,000, and now it has gone over $21,500.

Trading Key Statistics:

1. Total Trades: 19
2. Successful Trades: 13
3. Losing Trades: 6
4. Gross Profit: $1,840
5. Gross Loss: -$312
6. Net Profit: $1,500

Statistical Breakdown That Says A Lot

A lot can be gleaned about my trading strategy and success from these figures:

1. Win Ratio: 68.42%
2. Risk-Reward Ratio: 1:3
3. Profit from Best Trade: $796
4. Biggest Loss: -$103
5. Average Profit per Winning Trade: $141
6. Average Loss per Losing Trade: -$52

This win ratio and risk-reward is the combination that every trader would like to see.  This did not happen overnight, but this happened after adopting the right strategy after being wrong on many trades.

My profitable Rules

1. Taking the right entry: I do not follow any breakout anymore. I just focused on setups of high probability.
2. Following stop loss: I never broke my stop loss, and that is why my average loss was low.
3. Scaling in and out: I never invested all the capital simultaneously but let the trades increase slowly when it was in the correct direction.
4. Weekly trade review: I spent more time reviewing trades before new trades were taken. This helped me to optimize my strategies.
5. Less trades, more wins: I traded 19 times in a week but did not overtrade and spared myself from burnout.

Turning Point

Earlier I used to trade many times in the day and remain in front of the charts, most of the time there used to be a game of profit and loss but on an overall basis I was not able to make and after I fixed my trading time and number of trades, now I am profitable

My recommendations to new traders

1. Conserving your capital is the priority: Among the things always to be remembered is that your top concern shouldn’t be how to make a lower profit but how to save your capital during market fluctuations
2. One great trade can flip the whole picture: My greatest trade made me $796 — this was close to half my total earnings. A good setup is worth gold.
3. Statistics don’t lie: Always keep a record of your trading. Statistics will tell you right away what your strengths and weaknesses are.
4. Protect your downside: My biggest loss was only $103. It made me feel more at ease and boosted my confidence.

Finally…

$1,500 is not big money, but it proves to you that if you employ the right strategies, you can make a profit with controlled and consistent trading.

This is just the start. Every small step is transforming me into a better trader and better decision-maker.

If you too are looking to trade or thinking of joining a funded program, I have one thing to say:

“Don’t trade to impress others; trade for your freedom with smart judgment.”

Did you find this article helpful?  If so, feel free to comment, share, or leave some thoughts about my experience. I’ll update my next achievement soon — and hopefully it will be even greater.