Moving to live trading

ele020

Sergeant
Messages
196
I think we have to move from demo to live when we are ready but it's hard to feel this moment because demo and live are different and this difference creates false impression that you are ready.
Very well described. Its difficult to know when one is ready for the live. so the best thing is to start small even on the live account and gradually build your capital.
 

Keithstyles1

Private
Messages
143
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?
Start small and don’t expect massive returns straight away
 
Messages
289
Yes, don't be afraid of small losses initially because your experience with a live account won’t be the same as your experience with the demo account because real money isn’t involved in demo trading.
I found when I was losing it was actually good because it prepares you to have a profitable system. If you have a large run of successful trades that's when you get over confident and enter into a dangerous place
 

fxoday

Recruit
Messages
625
Overconfidence can big matter in forex trading usually when trader get easy profit, they have fun and felt so easy to make money in forex, it could lead them being overconfidence and it can lead them to become reckless and trade with high risk with higher expectation, this is not a good trading habit
 

sarah2701

Recruit
Messages
94
I found when I was losing it was actually good because it prepares you to have a profitable system. If you have a large run of successful trades that's when you get over confident and enter into a dangerous place
Yes and when you are only winning you do not focus on risk management, so that you have a balanced trading plan. Profit is must but initial loss makes you realize loopholes in your strategies.
 

perryjohn765

Private
Messages
215
the live trading is nervous, it feels like going to school or office for the first time not knowing how the things are gonna be
 

bigdolly

2nd Lieutenant
Messages
1,201
Very well described. Its difficult to know when one is ready for the live. so the best thing is to start small even on the live account and gradually build your capital.
Very good advice trading with small amount of money makes trading easier because potential loss won't cause big emotional problems to a trader.
 
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