Moving to live trading

Bordux

Recruit
Messages
45
Hello traders. I have been learning and practising for a relatively long time and I feel confident about my trading so far. I have learned what I need to trade correctly and I am planning to start trading live, however, I'd like to ask you what would you suggest to do to deal with "1st day" emotions. Although I read plenty of articles about emotions, discipline and psychology of trading, it's still interesting to learn how other traders dealt with it. What did you do to reduce the heartbeat after opening your first trade? How your 1st week or 1st month of live trading was psychologically?
 

FxMaster

Lt. Colonel
Messages
9,337
Its good the hear that you are up for live Trading. Few things that you have to keep in your mind.
Watch Live Market first,
Read the analysis,
Do not open many trades at once.

And most important DO NOT make more bids to cover lose if you had any.

Best of luck mate :)
 

nahiyar

Private, 1st Class
Messages
809
These are good advise for a trader before moving to live trading he had to gain
enough knowledge of forex trading .
Experience of trading on demo account.
Learn risk management techniques.
He should be goos n analysis making and understand market moves.
Avoid emotional trading and do work with patience.
 

John Mason

Private
Messages
37
These are good advise for a trader before moving to live trading he had to gain
enough knowledge of forex trading .
Experience of trading on demo account.
Learn risk management techniques.
He should be goos n analysis making and understand market moves.
Avoid emotional trading and do work with patience.
Yes i will agree that trading is only going to become better if we will learn how to manage the risks and which trades are best for us.

This is why when our Trading related knowledge will increase so will our profits.
 

Bordux

Recruit
Messages
45
Thanks for your replies, however I started this topic not to discuss the necessary knowledge, risk management, trading plan etc; I'm fully aware of those. What this topic is about is your personal "First day" trading emotions - how did you experience them and how did you deal with them. :)
 

Pharaoh

Colonel
Messages
19,899
Thanks for your replies, however I started this topic not to discuss the necessary knowledge, risk management, trading plan etc; I'm fully aware of those. What this topic is about is your personal "First day" trading emotions - how did you experience them and how did you deal with them. :)
Do you mean before or after throwing up when the first trade smacked into its SL? :p
 

margin

Private, 1st Class
Messages
53
Going live is only a next step in your trading career. You have to take this step sooner or later. Real deal is what you do after you have taken this step, either you are emotionally trained well to deal with pressure real account trading creates or you won't be able to control your emotions and blow up major part or all of your capital.
 

FxMaster

Lt. Colonel
Messages
9,337
Thanks for your replies, however I started this topic not to discuss the necessary knowledge, risk management, trading plan etc; I'm fully aware of those. What this topic is about is your personal "First day" trading emotions - how did you experience them and how did you deal with them. :)
Its means I wasted my energy and time to write my first post at this thread :mad:
 
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