Psychology of going from Sim to Real money

NexusFi · 2014-04-16T08:21:24-04:00

Well guys, I had a very high win percentage on my paper trades for the past 6 months. 84% of my days were winners. Last week I started with real money. The first two days were great and I had returns as expected. Then on the third day I got nervous halfway through the day as I was losing. Normally I would make a comeback but for some reason the feeling of trading with real money was much different. I lost everything I made that day and more. And then the day after that I was not in the state of mind to trade …

Discussion in Psychology and Money Management

Updated April 16, 2014

Psychology of going from Sim to Real money

April 16th, 2014, 08:21 AM	#31 (permalink)
mikorn83 Gdansk/Poland Posts: 33 since Feb 2014 Thanks Given: 8 Thanks Received: 23	When I started to trade on simulation I've had a set of rules. My SL was 5 ticks. After a losing trade I took a 15 min break to cool off. After 3 losses in a row I took an hour break and then I came back to my PC. When I've made 5 losses that day I just took a day off and didn't trade for the rest of the day. It helped me a lot since I didn't hunt my loss from previous trade to make a profit (usually you just overtrade and lose more than you want). It worked for me and maybe it might to work for some new traders.