Lessons lead to funding. 150k · InvestCEO with Kyle Henris

Lessons lead to funding. 150k

Hey invest Fam!

I posted a bit ago in celebrations when I passed my first 50k EA. Well… I passed another the next day, ripped some success, and then watched my wings melt as I did my best Icarus straight to crashing both…

Well after a few weeks of scrutinizing review and practice, I was ready to go for the next round on Thursday with completely re-formed strategy that ended 3 accounts today where you see them in the screenshot.

I’ve got so much more to learn, but here’s a couple things that I hope can turn my mistakes into your lessons.

1. Be careful of high profit targets on a $2,500 drawdown. If you’re above 3:1 in an EA, trail it before it accidentally eats 30% or more of your drawdown in one trade

-no, I am not saying big ratios are bad! Increasing your reward is one of the best things and one of my biggest improvements. However, if you’re in an EA, the drawdown does not grow. Let’s say you’re risking $200 and shooting for a 5:1 ($1000 profit). Your trade pushes to 4.5 before reversing and slamming your stop. Well that 2500 drawdown was increasing with that trade. So will be down your $200 loss plus the $900 profit you had at one point. From $2500 to $1400 drawdown in one trade (plus commission if the 1400 wasn’t bad enough : P). Pretty brutal huh?

On this run my average risk ratio was 6:1, but if I was above 50% of my profit target, I put in a trail-stop or trailed manually to protect my drawdown. This was pretty crucial for me.

2. Trust yourself!!!

-Yes, self confidence is important, but there’s a lot of need beyond that.

I have watched myself lose as much if not more from over-caution and self doubt than I have from being too aggressive. Closing trades that would have hit profit no problem, being too scared to place the better trade, then following it up with a bad setup because of fomo. It’s a messy cycle.

Yes, I messed up from over aggressive trading, but that was actually a poor response from the backlash I was feeling from letting fear change my decision making process.

3. Make picky entries and tight trades!!!

Missing a trade that doesn’t retrace close to the candle low (your stop loss) is actually a good thing, and is NOT A SIGN TO INCREASE THE TICKS BETWEEN YOUR STOP AND ENTRY!

I taught myself to make ALL my entries smaller and to be almost excited when I missed a trade that would have been a super wide entry. It means I’m being patient, waiting for better setups, and my profit target is in a close, EASILY reachable value.

I found myself winning taking slightly less trades, and easily reaching between 4:1 and 6:1 on trades that my original plan may have struggled to hit 2:1.

This has been one of the biggest improvements that contributed to this rounds success.

Anyway. I’m super excited to be back in PAs with 150k, and hope there’s at least a few people who read this and find something helpful.

Oh, the bonus #4 is what I always say, never give up. But this time with a bit more context. Every painful moment is an opportunity to learn a lesson that made someone else quit because it was too much.

Don’t quit, find the lesson. I think that’s what will really decide who makes it to that 5% of profitable traders and who doesn’t.

These lessons hurt like a ******, but what I learned through them is the only reason I improved and saw success.

Blessings and Abundance Invest Crew

-Tyler (A.K.A. major_lols)

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