Looking for a trading buddy/mentor

[Trying2trade]

Hey, new to the forum. Just looking to connect with like-minded people to continue on my trading journey. Im looking for someone that would be interested in sharing their trading experience, knowledge and sort of mentor me where I could improve on what I am currently doing. I have been trading on a demo for over a year, I started at £500 and my goal was simple, get it to £1000, £1500,£2000 and so on. I tried every and any strategy I came across to find what I liked or what worked or what didn't work with certain strategies during certain trading times or with one market or stock, like any one new to trading I didn't fully understand exactly the importance of analysis, support/resistance, trends, order blocks etc. I'm got to the stage where I was comfortable enough to put a small deposit into my trading account and see if I could do what I've been doing on the demo for the last 2 years, slowly building it up😅well... I'm guessing alot of traders out there know how it all ended from living the same experience... The emotion of seeing some trades head straight towards my stop loss within 1 min of entering, that didn't happen in the demo. I found myself immediately doubting my trade and if it was better to get out now or risk it hitting my stop and being even more down on my account... As my account got smaller I lacked the experience and knowledge to adjust my strategy to manage my account properly. I learnt a valuable lesson that day. The market will eat you up and spit you out with a second thought and if you are going to succeed then you need a solid strategy that delivers constant results and the confidence that i have executed the trade inline with my set of rules and no matter what it looks like during the trade I can not allow my emotions in that moment to create doubt in my strategy until. Sorry for the ramble😂 any help would be greatly appreciated, thanks, happy holidays everyone

 

[steven46]

Well the first thing to say is obvious. Do not trade real money, a simulated account can be
had from Ninjatrader and many other vendors.
Secondly get a basic education. I would start with free resources from Dr. Al Brooks
and you can "Google" his free resources on YouTube. His approach is known as "Price
action trading". He has also written several books, but they are difficult and tedious
I suffered through several of them myself so I know. Leave this to last.
Here on Trade2win there are many threads, Obviously I like my own, but they are not
really aimed at beginners, so again leave them for last.
Another reasonable resource is "Trader Dale", but again you need a background to
start that process.

Good luck

Postscript
I apologize, I typed "Do trade real money". I meant to say the opposite and have corrected that now

 

[timsk]

Hi T2t,
Welcome to T2W!

Reading between the lines of your post, it sounds to me as if you're trading too large a position relative to your account. This sentence rings alarm bells: "The emotion of seeing some trades head straight towards my stop loss within 1 min of entering, that didn't happen in the demo." If you've actively traded a demo account (I'm assuming day or swing trading) for a year and that hasn't happened until you went live - it suggests to me you've either changed where you put your stop loss or you've tried to short a raging bull market, e.g. silver. So, I suggest you plough through the FAQs on here - much of which you'll already know - but it will be a good test of your knowledge and may fill in a few gaps. Then, check out these two threads - starting with this one: Essentials Of 'New to Trading'. After that, read, mark, learn and inwardly digest this one: Essentials Of 'Risk & Money Management'. If you're still having issues with stop losses being hit and you're struggling to work out where best to place them, this is an excellent article by Trader333 - one of the moderators on T2W: Position Sizing as an Approach to Risk Management.

With regard to the request you made in the first two sentences of your post, I recommend you post your strategy here with trade examples, ideally with an annotated chart showing where you entered, exited, stop loss position along with a brief explanation of what you're trying to do. Only when members understand what it is you're trying to do will they be able to offer constructive feedback.
Tim.