Quote:
Originally Posted by soul786
.In my own opinion however I beleive the differences are psychological. Knowing that YOUR REAL MONEY is now on the line with every trade could make you anxious (makes me anxious thinking about it). With a demo, no matter what it is desensitized. Losing that $20 in fake money is reconciled by our mind saying 'meh well I could have done this, we'll see next time". On a Live account I can see myself losing sight of the loss being a learning experience, thus clouding my other trades and possibly moving away from my system.
Just my 2cents.
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I think you are right. I've asked the question why can you demo trade but not live a lot and got some very insightful answers but still can't completely 'crack it'.
First time I went live I lost £300 in around half an hour.
Some spread betting firms allow you to bet with really low amounts of money like 10 pence per pip and when I started using that amount of money I didn't lose so badly but was never going to make very much either.
Anyway, in the last year or so I came to the conclusion that I would never be able to over come this psychological barrier and now limit myself to system trading, trading a purely mechanical system.
A good trade for me is following the trading rules to the letter - a bad trade for me is not following the trading rules to the letter. I don't pay attention to the outcome of any one trade, the only thing I worry about is did I follow the rules. This is the only way I'm able to trade. Don't know if it's good or bad but I have come to accept it.
11-07-2009, 07:52 AM
Hybrid Mode
