First Withdrawal

Hello readers!

Firstly, I must apologize for not updating my blog for such a long time. I have been rather busy with my personal life recently, henceforth the hiatus.

It has been quite a fruitful month of January, as you can see, I have achieved a 13% return on my portfolio, and I hope to do the same for the month of February. According to myfxbook, I have already achieved over 4% return for the month! Way to go! I hope that I am able to keep this performance consistent so that I can build a career out of trading forex.

Anyway, I have finally made my first fund withdrawal from my broker. Emotionally, I felt really happy because it is a milestone achieved as I am able to "touch" my returns from the market. This would certainly be a source of motivation for me to be emotionless (no puns intended) when trading the market in order to perform well.

I have to bring this message across to the fellow traders out there, that you need to reward yourself after reaching a certain milestone in your trading career. Because ultimately, you trade for the profits. If you persistently refuse to take out part of the profits in order to reinvest the money, it can work out both ways for you.

One, you REALLY grow your money faster, thanks to the compounding effect. However, more often than not, you will end up burning your account because greed comes into play as you want to see your money grow even more before you actually cash out. Trust me, this has happened to me before, and I believe that it would happen for most traders out there. Hence, it is really important that you take out a small sum of money after reaching a milestone in your trading career, in order to be less emotional when trading.