In A Trading Dilemma

[ekainoxgu]

Can u imagine?

I just begun trading for my firm LIVE.

I had been on demo for 4months and in the conclusion of the period, had a long run of very successful trades.

Now just began with the live account and in just two days, have experienced very bad entries, resulting in rather bad outcomes. A 5,000usd account has gone down to approximately 3,027usd!!!

I NEED HELP! In knowing the best times.

I'm utilized to trading very nicely with the news, but now live account seems just to sabotage all of my motions.

Is there a difference between price actions in live an ddemo accounts?

Pls comments and counsel are appreciated.
Thank you.

[angmeaa.2]

The major distinction is emotions. They are a bugger and they'll remain a barrier, for certain in case you have any type of pressure to make x. Another potential hinderance is the risk that this cash is too valuable for you to adopt the risk involved in using it to exchange, meaning placing it towards something which you haven't drawn a porbabilistic view of feasible outcome or you just cannot afford to lose it regardless. If you've got a probability model according to your own history in the demo it must make things less stressful knowing that wins and losses aren't evenly distributed but also understanding that 1 out of x trades has a higher likelihood of being a winner with a likelihood of x benefit and a streak of losses may be followed by a streak of wins. This should be accounted for. Sit down an test your system based on performance and come up with a few figures.

Hope it helps,
Bob.

[pulifam]

Bob is right about money and the emotions.

I believe I have to grow my account to whatever size I trade at.

Should I adhere 10 grand in the marketplace today, I shall always be taking a look at the money, and will trade scared.

Should I increase into 10 grand, I will not be afraid by that time. The way wills grow along, the trades will be the amounts, as well as larger. I learn to discount the $$ on a gradient scale as I go.

I believe that is the only way for me personally.

And in the exact same time, the quantity that I risk is in line with my ability level. I blew a $250 account, a account, my account brought down to and will be coming back up! I am making it, but am clawing for virtually every pip. In another year it'll be simpler, and this account will be at 5 - 10K.

[ekainoxgu]

Thanks Bobby (can i call u that? Pardon me) for the advise and fantastic words. I will surely update my system and appear towards perfection.

Additionally Blueruby, donations immensely appreciated.

A Great Day To You

[camolinacvg]

5K isn't much cash...I do not think you've realized the reach of trading under emotional attachement to your equity only yet.

But welcome to Foreign Exchange!

Because you've sustained a 40% drawdown at a short time period, I would say that you have serious issues related to cash management, which you need to deal with first.

Second, I would encourage you to stop trading for a couple of days, disengage markets in order to come back fresh with another frame of mind.

I do not mean to irritate you, however you seem to be having a loosing frame of mind right now.

Ultimately, I want to wish you best of luck and a successful continuation on your Foreign Exchange endeavor.