A retail trader friend of mine whose target is to make $1m this year trading mostly FX was $500,000 in the green as of two weeks ago then quickly drew down to $300,000. Yesterday he pinged me as he had his best day ever and is now +$570,000 YTD. His text was like “Party time! I’m gonna be up a million bucks by May 1!”

My advice to him was: “Cut your risk by 75% for a week. And chill out.”