Looking for beginner traders

[rahan1977]

Hello

I've been trading for a few months on a demo account using CMS ..recently I started with a live account with a small amount of cash, even though on a demo account I was making money on a live account I wasn't and ended up losing it all!

Anyway not easy one to give up, I've learnt alot and realised alot of my mistakes and now I've vowed to practice more and developed a trading plan which I am practicing.

My plan is quite a simple one, trends and cycles but I wanted to talk to more traders who are either quite new or trading full time to exchange ideas and get some advice as most advice is costly..

 

[4xpipcounter]

What did you do differently from trading on your demo account to your live account? What were the sudden change in events after winning on a demo to trading live?

Hello

I've been trading for a few months on a demo account using CMS ..recently I started with a live account with a small amount of cash, even though on a demo account I was making money on a live account I wasn't and ended up losing it all!

Anyway not easy one to give up, I've learnt alot and realised alot of my mistakes and now I've vowed to practice more and developed a trading plan which I am practicing.

My plan is quite a simple one, trends and cycles but I wanted to talk to more traders who are either quite new or trading full time to exchange ideas and get some advice as most advice is costly..

 

[rahan1977]

Basically I didn't want to lose money and was too impatient to enter trades, I would end up moving my SL in the 'hope' that it would turn back and also if the indicators were looking like it was going my way way I'd enter the trade and as I know now they end up 'wiggling' around until the next price bar is confirmed..

 

[4xpipcounter]

Okay, so the emotion of greed is the thing that took over after you got away from the likve trading to the live trading.
What you need to do now is go back to your demo, don't think about going live for a few months, and learn to manage your emotions. After you are winning consistently again on your demo, then go back to your live account, and try it again. Also, do not change your margining practices from demo to live. If you're margining 10% on your demo , then make sure you do the same thing live.

Basically I didn't want to lose money and was too impatient to enter trades, I would end up moving my SL in the 'hope' that it would turn back and also if the indicators were looking like it was going my way way I'd enter the trade and as I know now they end up 'wiggling' around until the next price bar is confirmed..

 

[rahan1977]

Okay, so the emotion of greed is the thing that took over after you got away from the likve trading to the live trading.
What you need to do now is go back to your demo, don't think about going live for a few months, and learn to manage your emotions. After you are winning consistently again on your demo, then go back to your live account, and try it again. Also, do not change your margining practices from demo to live. If you're margining 10% on your demo , then make sure you do the same thing live.

The other thing was when I was trading live I had more winning trades but my losing trades were always larger so ended up cancelling out the wins.. I'm trying this new method which has a high win/loss ration but small reward which I'm happy with..

 

[4xpipcounter]

Anything that produces net wins, I'm sure you will be happy with. The huge wins feel good, but they are not necessary for a winning methodology.

The other thing was when I was trading live I had more winning trades but my losing trades were always larger so ended up cancelling out the wins.. I'm trying this new method which has a high win/loss ration but small reward which I'm happy with..