HOW MANY TIMES BLOWING UP ACCOUNT BEFORE GIVING UP
esierra77
Miembro desde Dec 11, 2019
1 mensajes
Dec 12 2019 at 15:20
Hello, Ive been trading for a couple of years, Ive done my homework, develope a consistent demo account strategy, and for some reason when I go live, I start making money, something happens and end up losing my account, its all in my head, would there be a time, when i stop making mistakes?
Professional4X
Miembro desde Jan 05, 2016
1189 mensajes
Dec 12 2019 at 22:39
esierra77 posted:
Hello, Ive been trading for a couple of years, Ive done my homework, develope a consistent demo account strategy, and for some reason when I go live, I start making money, something happens and end up losing my account, its all in my head, would there be a time, when i stop making mistakes?
Focus on RISK MANAGEMENT as your #1 priority. Everything else is secondary to risk management.
The difference between a profitable trader and a losing trader is RISK MANAGEMENT.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Okoro Precious
(Decentprecious)
Miembro desde Dec 01, 2019
1 mensajes
Dec 12 2019 at 23:07
Mistakes are part of the game
Once you become competent the money will follow
o_animal_o
(maitradebk)
Miembro desde Feb 19, 2019
2 mensajes
Dec 12 2019 at 23:29
Mistakes happen, so we got to manage the risk of every trade carefully.
I also include an extra safety net that if I had 3 losing trades in a row, I take a 20 min break from the screens. Return and reduce position/trade size on next trade to smallest position size and follow this for a number of further trades till I feel confident I am consistent and disciplined enough to increase risk and trade as before.
I also include an extra safety net that if I had 3 losing trades in a row, I take a 20 min break from the screens. Return and reduce position/trade size on next trade to smallest position size and follow this for a number of further trades till I feel confident I am consistent and disciplined enough to increase risk and trade as before.
Everyone shines, they just need the right lighting
jamesstarks99
Miembro desde Feb 06, 2019
2 mensajes
Dec 13 2019 at 02:54
I tried trading 5/15/30 minute charts. Could never get consistent profits. Now I trade 2 hour, 4 hour and daily charts. Start with a smaller lot size, set a trailing stop that has room to breathe and let the trade run. You can also add to the trade as it becomes profitable. For instance, if you opened with a 0.5 lot size and you become profitable, add a 0.1 lot size. You do not want to add anything larger as a retracement could easily eat at your profits and force you out of the trade.
Years ago I realized my biggest problem was my being extremely impatient. I would close trades when I had a small loss or small profit and then see them take off a few days later. This is with stocks and forex. Now I try to look at the bigger picture. Kind of a 'set it and forget it' mindset. Works for me.
MY FAVORITE TRADING QUOTE
“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”
Jesse Livermore
Years ago I realized my biggest problem was my being extremely impatient. I would close trades when I had a small loss or small profit and then see them take off a few days later. This is with stocks and forex. Now I try to look at the bigger picture. Kind of a 'set it and forget it' mindset. Works for me.
MY FAVORITE TRADING QUOTE
“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”
Jesse Livermore
feelsofine
Miembro desde Dec 09, 2019
46 mensajes
Dec 21 2019 at 09:39
You have to be very specific about this “something happens”. It could be anything, would be a big help if you explain what was it?
And someone is right - you gotta start looking into risk management and learn how to manage your assets. It helps to reduce and control the loss.
And someone is right - you gotta start looking into risk management and learn how to manage your assets. It helps to reduce and control the loss.
Adribaasmet
Miembro desde Aug 27, 2017
897 mensajes
Dec 21 2019 at 13:10
Well; I used my demo more than 19 months before my live trading & surely faced MC in my demo for many times! It’s okay in the learning stage.
Treeny
Miembro desde Feb 08, 2019
135 mensajes
Dec 21 2019 at 18:07
Never give up....
gpdno
Miembro desde Nov 24, 2019
1 mensajes
Dec 21 2019 at 19:49
I never was any good with demo accounts. Once I started to trade with real money everything changed. I took my trading seriously and was not afraid to make mistakes. It took me less than two years to become a fulltime trader. I will never use a demo account again. All my accounts, even if I'm trying out a new system use my own money. It forces me to focus on making the perfect trade every time.