Moving to live trading

Messages
181
Unfortunately, no articles will help you out.
I think that the most efficient way to use your first days is to observe yourself and your psychology. You'd better start with small sums and you can try to implement all the trading strategies that you used in your demo trading and see how they work. You should pay attention to the slippages, spreads and all other kinds of commissions, so that you will be able to understand whether your trading strategy needs some adjustments and alterations. More than that, you should pay attention to your psychology and your feelings. You've got to understand whether real trading is different for you in the emotional aspect or it is quite the same. If it is different, then what exactly makes the whole thing different. Later on you can increase the lot sizes gradually so that you'll feel calm and avoid any stress along with the increase of your deposit.
This is great advice. Emotions can trip you up when moving from demo to live, and this means you have to be careful even if you had good results on a demo account.
 

7Bulletin

Sergeant
Messages
169
The first day are very difficult from psychological point of view. The weirdest thing is that you do quite the same as you did before on demo but you do experience some different emotions and feelings. My first deals were experimental. I traded microlots and tried to analyse my psychology instead of concentrating on getting profits. Surely, I didn't want to lose money and I definetely wanted to make my first real profits, however, I concentrated on the long-term goals which were about combing my feelings. Actually, when I traded demo I wrote my deals in my trading diary, so, after switching to live account I also took notes and compared them with those which were made on my demo account. The difference was striking and my notes helped me realise which decisions I make differently and I had the necessary information about myself which would help me modify my trading and change it to the better.
 
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