I thought I had everything figured out sim trading too. It took me about 1 1/2 years of trading to really understand what my style and realistic goals were. You learn a lot once you go live, and that's a good thing. Just because you spent all Summer giving it 110% in training camp doesn't mean you're going to come out playing 110% in your first game.
Very true, a good way of looking at it. I am feeling quite relaxed about it now, the nerves have gone.
itspossible
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Roxy what is your account size and how much do you want to make in a day or week.
StarProsper
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Hi, after months of practicing on a demo account I found my style of trading and had my strategy in place. Today was my first day and I was so nervous, I took it very slowly and was £40 up this morning and that's when I should have called it a day, but instead I didn't and I'm now £200 down
I'm kicking myself. Also if I had traded like I normally do I would have made a few hundred pound but nerves got to me.
Hopefully next week is a better week
Roxy, I know you will become a successful trader
May I ask what trading plan you're using to trade non-emotionally and keep a stress-free work environment in your trading business?
alexaherself
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Roxy, I know you will become a successful trader
This is very much my impression, too. I think you're doing and saying the right things, Roxy, and that you'll "get there"! Good luck for next week, and looking forward to seeing updates.
Roxy, I know you will become a successful trader
May I ask what trading plan you're using to trade non-emotionally and keep a stress-free work environment in your trading business?
Hi, when I was on my demo account towards the last few months I started to focus on Germany 30 especially when the cash markets opened. I found it easy to jump on whichever direction it took first thing. I was buying/selling at £5 with a limit of 10 and a stop of 50. I would do this twice, 90% of the time I would make £100 and leave it at that. If later I noticed Germany was struggling I would jump in again (80% of the time I went short on Germany) and would usually make more money. Obviously doing this for real didn't work out for me as nerves got to me and I kept jumping in and out worried I was going in the wrong direction and losing money. So on the first day I lost trading with Germany 30 and then later on with Wall Street. Sorry, forgot to say I was initially up by £44 and should have left it there but stupidly tried to round it off to £50 and that's when I started to lose my money. Maybe this did me a favour as I now know that scalping maybe is not my thing?
After a few days of having lost £290 I decided to look at the FTSE instead, less volatile than Germany, maybe safer for me to trade as a beginner? Correct me if I'm wrong! So yesterday and today I have managed to claw back a total of £59 with no losses trading the FTSE and have managed to get out at the right time. I am now just trying to get myself back to where I started off moneywise and hopefully take it slowly with small wins/losses whilst I gain knowledge of charts etc. I know I will make losses but intend to keep them small as possible. I have also started using investing.com as I have found this a good site for charts/info etc. but I need to learn more about charts. I have looked at youtube clips but find a lot start off well and then start using jargon I just don't understand and then I'm lost! If anyone can recommend a you tube clip about charts for dummies, please feel free to recommend to me!!
Also my nerves have now disappeared, I am calm and relaxed now especially as I am now taking it slowly, slowly. One day I didn't trade at all because I couldn't see anything worthwhile so I left it, I won't trade for the sake of trading as I'm setting myself up to lose money. I am also still using my demo account as well so I can keep learning.
alexaherself
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I was there, kind of. I started off on indices: the Dax until I realised the FTSE was a little less volatile and better-behaved, and perhaps an easier place to start. But I was advised to avoid the first half-hour or so of each session (which I think was good advice, overall, for a beginner).
It's a PDF and not a YouTube clip (sorry), but I found this very helpful indeed: http://www.trading-naked.com/library/Law_of_Charts.pdf (this link is a PDF download, not just a web link - it's not a very big PDF, though: about 25 pages, as I remember).
There are other interesting PDF's available (also free), from the same source and sanctioned by that source (don't imagine that you'd be downloading "illicit"/"pirated" copies at all: the author himself sometimes refers people here to download them) on this page: http://www.trading-naked.com/joe_ross_.htm
Thank you so much Alexa, you have been really helpful...I will definitely be downloading the PDF:cheesy::smart:
Also very good advice about avoiding the first half hour or so of trading, I will do that on Monday, let the market settle a bit and see where it is trying to go.
Have a good weekend.
SaulGoodman
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I was told that the first few days you will win, just do not poveril.s I then opened a demo account and all okazlos as I said - the veterans of the movement. Naturally, when the money is not yours you risk more , and higher probability of success ..
Same thing if you play poker for fun or for money. The difference in the process did not seem great, but in the end result is often different.
Same thing if you play poker for fun or for money. The difference in the process did not seem great, but in the end result is often different.
Hi, just a little update for you all as you have all been very supportive with great advice. I reassessed my trading plan, have now learnt more about charts and support/resistance levels etc.and can now say that I am trading with no worries or concerns. I have now almost clawed back all the money I lost at the beginning I had a great day today with Germany and Wall Street and was happy to walk away from the computer confident with my entry and exit levels. I'm enjoying myself but without being over enthusiast!
I had a great day today with Germany and Wall Street and was happy to walk away from the computer confident with my entry and exit levels. I'm enjoying myself but without being over enthusiast! 
VielGeld
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That's good to hear. Keep it up.
Managing your emotional state is every bit as important as setting up your plan. Stick to your strategy and take breaks as needed. The last thing you want is to burn yourself out or suffer from see-sawing emotions as these can lead to trauma.
Good luck.
Managing your emotional state is every bit as important as setting up your plan. Stick to your strategy and take breaks as needed. The last thing you want is to burn yourself out or suffer from see-sawing emotions as these can lead to trauma.
Good luck.
I still have the shirt on my back and it's lovely, crispy and white...
