Quote:
Originally Posted by suunto
i've done the same thing, 5 grand into 10 on a 30 day demo account, the draw down doesn't affect you as much on a demo account, whereas with a live account the draw down battered my head which made me chase the trade and ultimatly losing.
on one trade in demo i was $1,300 down, i looked at the charts and was confident the peak was nearly reached and stayed in the trade which closed out + $950 up but i could never do a similar thing on a live account.
to me the whole mind set is clear to see if you've tried playing online poker, playing for real or playing for fun money are two entirely different things, the game is the same but way its played are poles apart
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In his book 'The Psychology of Trading', Brett Steenbarger found that making position sizes so small that that they were insignificant in themselves, he was able to over come the problem that you describe and become profitable.
Try trading with very small lot sizes. Once you are comfortable with that, you can begin adding to them.