Hi All,
I have been learning, studying and demo trading for about a year. I am still terrified to make that first trade. I keep demo trading and when I am right, I smack myself for not taking the trade. Is the first trade always really hard to place?
I have traded stocks and options in the past and never felt this level of fear.
Janet
Often not trading is the hardest thing to do, so congratulations there.
If you’re struggling to take the plunge, may I suggest using a tried and trusted system to begin with?
There’s a thread in here called the 3 ducks system (not the one “with envelopes”). Its a great system, really easy to follow and with a very good success rate.
Take a look at it and demo it for a while, I use it for over 90% of my trades.
Good luck
My first live FX trade was a single micro. It was down about 20 cents and it felt like $20K. And like you, I had been trading for many years in stocks and etfs. I ultimately traded like mad. I traded over 1200 trades in that first year of fx trading. At the end of those I was ina 50% drawdown but everything I thought I knew about position sizing had changed and for the better. Now I have absolutely ZERO fear and I am taking long term trades with the trend and it all feels right even when my OTE moves 30% in a day (it did that on a news event day last month and I stayed in all my trades and they all have been just fine).
So the answer to your troubles: Trade Live, Trade Small.
And had I known that Oanda offers odd lots when I started, I would have traded even smaller. If you don’t know them, check them out. They allow you to trade as low as 1 currency unit. You can trade 100 units. You can trade 247 units. You can trade whatever size you like. So if you want to start with small position sizes, definitely give them a look.
May the forx be with you.
-Adrian
I have been learning and studying for the last few months and I have a hard time bringing myself to make my first DEMO trade lol So you’re already better off than I am. I feel like a total Chicken Pip. I have never traded before. I’m trying to feel out the market and see how everything moves as a whole. I am so scared of making mistakes. But I guess that’s what demo accounts are for. I hope both of us feel better about this soon! Happy trading 
I remember that feeling all too well! But if you’re confident in your trade strategy, you just gotta take that risk. Don’t allow yourself to get crippled by the fear of losing and instead focus on limiting your potential losses if it doesn’t go your way.
Hi healthy67! Have you made that first trade yet? In trading, once you have made your first trade, the thrill of it will leave you wanting more. and more and more! I found with trading, that it was a bit like driving. the learning begins AFTER you pass your driving test. With each trade, you will learn more about yourself, about your trading style and you will refine your trading personality. Be balanced, be calm and be profitable! good luck!
Dont forget that you can reduce your risk by trading small amounts, e.g. 0.01 of EurUsd would only risk 10 cents per pip, so even a trade that went say 200 pips against you without a stop loss would only cost you $20.
Knowing this can take away some of the pressure/stresses you must be feeling. Knowing you are only risking pocket money and not your livelihood makes a big difference.
Thanks for all the encouragement. And thanks for the 3 ducks system. Looks good. I will start small and soon.
Hi healthy67! Have you start trading? How is everything with the world of trading?
That’s great! Best of luck to you!
Dont forget, losing is part of learning. Try not to take it personally, likewise try not to get carried away by a winning streak.
Good luck
Thanks for the encouragement, I finally placed a few micro trades and I am up about $10. The first trade was scary and I am so happy to have gotten it out of the way.