Lessons Learned From My Biggest Trading Loss

[@WDUK40]

I like the reminder that the value of an experience is not just in the PnL. Also, that the next day you start at '0' not a negative, you can't make a loss back, but you can get over it. Excellent stuff.

[@WitWICKy24]

Another great interview Anthony, but my hat goes off to Piers for opening up allowing us to become better traders.

[@anthonycheung6138]

Thanks Stephen, and a special thanks to Piers for opening up like he did. Great to know that his experience can benefit others. More interviews to come in future!

[@HaruSakamoto]

Thank you for the most important lesson in trading.

[@Sejdr]

The thing that made Amplifys Morning Briefings a must is Anthonys knowledge about macro and fundamentals - it is a learning experience watching them. I do hope that the coming online course has a solid macro/fundamentals part since I got a good grip on the technical aspect.

[@anthonycheung6138]

Hi Sejdr, thank you for the kind comment and absolutely the online course will have lots of content on global macro and fundamentals.

[@Sejdr]

@@anthonycheung6138 Awesome, ty!

[@johnb8229]

Thanks for sharing this Piers, traders should be more open about their losses. Never really seen a video like this on KZbin explaining your emotions after a loss. Suppose treat it like a new day, cut your size etc. Maybe have a day off relax and start getting back some smaller wins to build confidence into a winning attitude. Bit like a playing golf or snooker shot by shot using sports psychologically resetting your mindset at each trade.

[@HarshvardhanSaini]

Thanks for this, you have no idea how much I needed this!

[@anthonycheung6138]

Great, glad it helped!

[@chriskwok9951]

Thanks for sharing, Sam. I made a worse mistake, a amatauer , stupid one - losing 15k euro because of not setting stop-loss before a short trip without internet. Market flipped suddenly during my trip and I only knew about that afterwards... Great lesson for me as well.

[@anthonycheung6138]

Hey Chris. Thanks for your comment and honesty.

[@vmueller]

Great lesson here. Thanks for posting it.

[@anthonycheung6138]

No problem Vitali, have a great weekend!

[@accumanddistrading3963]

when i did a course at Amplify, upon asking a question about trade sizes, realistic profit/loss targets, I was told, pretty firmly, do not ask about the money, never ask a trader about his trade, where he was in out, and never look at anyone elses screen.

[@SherzodbekSafarov]

Thank you for sharing your experience. I just wanted to ask one question, if you don't mind. As a trader with more than 5 years of experience, I still have one weakness, which holds me back from bigger trades. As soon as I reach 5 digit PnL account, I always have a feeling that I am going to lose it, as it did happen few years ago, when I lost quite a lot of money, compared to my balance. Psychologically I cannot trade any more as soon as I reach somewhere around 10K or 15K, hence i close everything, withdraw the money, and start again from either 1K or sometimes even from 100 USD. And so far, i have been trading with different accounts, so that I can manage 4 digit PnL and withdraw everything at 10-15K balance. Do you think that I should keep doing what i am doing right now, like trading with a few accounts until 5 digit PnL, or is there anything else that can help me overcome this psychological barrier? Thank you.

[@mawas700]

great lesson for those who wanna avoid losses...many thanks

[@michaelholmes4283]

What would you suggest for new traders is a sensible process to increase your bet size that prevents you from reacting emotionally to the markets?

[@theOneWhoTradez]

Greetings Team Amplify, Hi Piers Your story defines a traders emotions pretty accurately when he walks back home from the time his risk manager tells him to stop trading and go home after a m2m loss position. Hope when ill come to london to meet you.

[@jaehus1971]

Thank you Piers for sharing your experience, it has really helped me. Jabeen

[@AmplifyTradingHUB]

Glad it helped!

[@brazzafit7583]

Pure gold

[@bibekrajhanggam]

It's make money from CFD trading?