How do you progress from small stakes into big stakes?

[cyxstudio]

I am currently using only £10-£20 to trade. So my profits are small. I have been making profits for 4 months now so i am fairly confident in my assessment of the market and i think i should up my stakes. But i am terrified when i see large stakes at risk and it makes me want to to take profit or cut loss prematurely.

I think being traumatized in the past because i wiped a few banks as a result of rage bets might have contributed to it.

I watch pro traders like caan berry or peter webb on youtube they seem to be calm when they throw in hundreds in the market and watch the price jump all over the place.

[Dallas]

You might want to add this question to this thread where there has al;ready been lots of discussion and thoughts from users
viewtopic.php?f=2&t=13058

[Bluesky]

But i am terrified when i see large stakes at risk and it makes me want to to take profit or cut loss prematurely.

It would appear that you have increased stake by too much. You were using £10 or £20 stakes, to what did you increase it to?

I would have thought the obvious thing would be to increase it slowly, and if you get to a level when you are feeling really uncomfortable about the amount of money at risk, drop it down a notch or two.

A few people can operate efficiently even with large amounts of money at risk, but most people aren't made that way. You say you have been profitable for a few months, that's not really very long in the big scheme of things. There is nothing wrong with getting rich slowly, the people who try and get rich quickly are usually the ones that bust out their trading banks.

Regarding the pros on you tube that can act correctly when lots of money is at risk I think is down to experience and also the fact that they have probably taken hundreds of thousands (maybe millions) of pounds from the exchanges over the years.

One final point, don't forget that as you increase stakes you will start to have an effect on the market too, and you will also start having to take things like will you be able to get out of a position at the price you want to. Using £10 and £20 stakes these things don't really come into focus, but it might be something for you to be thinking about for when you are trading with large stakes.

[cyxstudio]

But i am terrified when i see large stakes at risk and it makes me want to to take profit or cut loss prematurely.

It would appear that you have increased stake by too much. You were using £10 or £20 stakes, to what did you increase it to?

I would have thought the obvious thing would be to increase it slowly, and if you get to a level when you are feeling really uncomfortable about the amount of money at risk, drop it down a notch or two.

A few people can operate efficiently even with large amounts of money at risk, but most people aren't made that way. You say you have been profitable for a few months, that's not really very long in the big scheme of things. There is nothing wrong with getting rich slowly, the people who try and get rich quickly are usually the ones that bust out their trading banks.

Regarding the pros on you tube that can act correctly when lots of money is at risk I think is down to experience and also the fact that they have probably taken hundreds of thousands (maybe millions) of pounds from the exchanges over the years.

One final point, don't forget that as you increase stakes you will start to have an effect on the market too, and you will also start having to take things like will you be able to get out of a position at the price you want to. Using £10 and £20 stakes these things don't really come into focus, but it might be something for you to be thinking about for when you are trading with large stakes.

started from £10, still using £10 or sometimes £20.