fear of real money trading

Ross Spur · May 18, 2012, 3:47am

Quote:

Originally Posted by cyberbob222

Hi Ross,

I have started on 20th of April, this year. So it hasnt been 4 weeks yet.
Trading is something i have been waiting to do for a long time - proffesor in college infected me 11 years ago. Businesses, jobs, children... never had time to sit to it. I am 34.

I have done it yesterday - just left 7 eur on the account for the mercy of god, and trying to build confidence using cents. Funny - feeling is excact same, i think i just have to loose a bit first to learn this skill.
I must say i enjoy learning process - posts, bloomberg, newspapers, all world around us. And what previously was just an interesting story, today became a market hint - whole EU battle to keep it going.

Thanks for your advice.

If you've only been doing this a month you seem to be putting a lot more thought into it than most people. From what you said, I assumed you'd been trying for much longer, hence the comment about not staying on demo.
Expecting to make money so soon is unrealistic, and you'll have to forget the idea that trading is easy or doesn't require as much effort as a 'real' job. You'll realise that after a year or so, probably having blown a couple of accounts.

cyberbob222 · May 18, 2012, 3:59am

Quote:

Originally Posted by Ross Spur

You'll realise that after a year or so, probably having blown a couple of accounts.

I am sorry, but i must disagree.
My micro account grows each day - regardless the portion - so it is a way of making money. But to have it right, i need to have consistency. Lets say i can make min 20pips a day, max 200. Which happened yesterday and the day before.

If you were to start a business, you would have to put much much much more time and money to get it going.
Trading seems to be the lowest cost start up ever. For wiser ones of course

x4x · May 18, 2012, 4:03am

Trading is technically very easy - it is the psychological aspect that is very difficult - as you have now experienced. You now have to accept the challenge and learn to control your emotions, which might take a few years to achieve and will cost you (not a lot if you're sensible) or refuse the challenge and quit trading.

HairyMoose · May 18, 2012, 4:11am

Good luck with your trading Cyberbob ! The spreadsheet is a good idea in my opinion !

Ross Spur · May 18, 2012, 4:13am

Quote:

Originally Posted by cyberbob222

I am sorry, but i must disagree.
My micro account grows each day - regardless the portion - so it is a way of making money. But to have it right, i need to have consistency. Lets say i can make min 20pips a day, max 200. Which happened yesterday and the day before.

If you were to start a business, you would have to put much much much more time and money to get it going.
Trading seems to be the lowest cost start up ever. For wiser ones of course

Don't be sorry about disagreeing with anything I say.

If your micro account is growing each day, then you're already being consistent - far more so than most traders, who inevitably have losing days. In theory, if you carry on the same way you'll be able to make limitless gains by scaling up.

Sadly, that's unlikely to happen, which brings us back to the hours, weeks, months and years you'll probably need to spend getting anywhere near that stage.

cornixforex · May 18, 2012, 4:56am

Quote:

Originally Posted by cyberbob222

I have started using tiny amounts, a few euro, i already got comfy in it after just two days. Well it still bothers me a bit, but at least i am not getting a heart attack

There you go. Start with size which is comfortable for you, little stress is OK but not too much to interfere your decisions. As you feel stress disappears and you feel greed to make more money and want to increase the trading size, scale up, but a bit... Do this slowly and over time you'll seemlessly trade big size and feel comfortable about it.

hgh · Jul 10, 2012, 5:15am

It's the nature of human, maybe just start with mini mount, build the pattern of trading, then you will build the confidence.

May 18, 2012, 4:03am	#11
x4x Senior Member Member Since Sep 2008 438 Posts	Re: fear of real money trading Trading is technically very easy - it is the psychological aspect that is very difficult - as you have now experienced. You now have to accept the challenge and learn to control your emotions, which might take a few years to achieve and will cost you (not a lot if you're sensible) or refuse the challenge and quit trading.

May 18, 2012, 4:11am	#12
HairyMoose Junior Member Member Since Nov 2009 44 Posts	Re: fear of real money trading Good luck with your trading Cyberbob ! The spreadsheet is a good idea in my opinion !

Jul 10, 2012, 5:15am	#15
hgh Senior Member Member Since Jul 2012 134 Posts	Re: fear of real money trading It's the nature of human, maybe just start with mini mount, build the pattern of trading, then you will build the confidence.

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