FREE COURSE
Risk and psychology in trading: the course that decides whether you last
Ten free lessons on managing risk properly: position size and risk per trade, drawdown and the maths of recovery, losing streaks and risk of ruin, leverage and margin, stops, gaps and slippage, R-multiples. Then the mental side: cognitive biases, revenge trading, FOMO, routines and limits, the advanced journal. With worked numbers and quizzes.
10 lessons · 2 modules · 1 hours of reading, approx. · updated 2026-11-15
How to use this course
Every lesson ends with a practical exercise: do it before moving to the next. Educational content, not financial advice.
Module 1 — Risk in numbers
How much to risk, how to work out position size, what drawdowns and losing streaks really look like, how leverage and margin work, where to put a stop and how to exit with a plan.
- 1Risk per trade and position size: the formula that decides how long you lastHow to turn a risk percentage into lots, with different stops, spread included, minimum lot size and small accounts. · 6 min
- 2Drawdown and the maths of recovery: why losing 50% is far worse than it soundsWhat drawdown is, why recovering always takes more than you lost, how to read an equity curve and which limits to set. · 5 min
- 3Losing streaks and risk of ruin: how many to expectThe real odds of five, eight or ten losses in a row, and how risk per trade changes the chance of disaster. · 6 min
- 4Leverage, margin and total exposure: the risk you can't seeHow margin and margin level work, why leverage isn't the same as risk, and how to add up the risk of correlated positions. · 5 min
- 5Stop loss, gaps and slippage: when the loss is bigger than plannedWhere to put a stop, why you shouldn't move it, and what happens when price jumps: slippage, weekend gaps and news. · 5 min
- 6Exits, partials and R-multiples: how to measure a trade without fooling yourselfWhat an R-multiple is, how partial closes and breakeven work, and why a system is judged by expectancy, not by a single trade. · 5 min
Module 2 — The trader's mind
The biases that cost you money, revenge trading, FOMO and overtrading, the routines and limits that protect your discipline, and a journal that actually measures how you trade.
- 7The biases that cost you money: spotting them before they decide for youLoss aversion, the disposition effect, overconfidence, confirmation bias and the gambler's fallacy: how they show up in trading and how to defend yourself. · 5 min
- 8Revenge trading, FOMO and overtrading: the three fastest ways to blow an accountHow to recognise the three behaviours, what triggers them, and the concrete rules that stop them before they get expensive. · 5 min
- 9Routines, limits and discipline rules: building the system around yourselfRoutines before and after a session, daily and weekly loss limits, realistic expectations and your own personal rulebook. · 5 min
- 10The advanced journal and the weekly review: turning trades into dataWhat to record, which metrics to calculate (expectancy, profit factor, MAE and MFE) and how to run a weekly review that actually changes something. · 5 min