Watch for the Compound Interest Spreadsheet trap

Those spreadsheets of daily growth can do more harm than good to the trader. If you begin with a $250 account, you can even have a more substantial growth in the beginning, because you’ll be more daring with a small account; however, at some point you’ll have a bad trading day (as the best of us do) and you’ll be so used to the fast growth of your account, that you’ll get desperate and martingale irresponsibly. It’s like reaching those spreadsheet goals turned into an individual game in itself and that’s where the danger lies. You can lose everything you’ve won in a matter of minutes. Those spreadsheets will turn into a game you won’t want to lose. So my piece of advice is: More important than focusing on making money in the beginning, it’s to master a specific strategy and have a high winning rate. You’ll make money eventually, don’t worry. Paradoxically, whoever focus on making tons of money in the beginning are the ones who end up losing money in the mid term. I insist, it’s all about mindset and habits, so start creating the healthier ones.

 

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