Hey people am starting to trade with a real Account this coming week and according to the numbers am ready but am kinda scared to start. How did you guys deal with the anxiety? Thanks in advance
Don’t start trading with real money until you’re consistently profitable using a demo account. Make sure you use a strategy you are familiar with by that time and that you can replicate the strategy with real money.
Eat lightning, and crap thunder.
Just kidding. (Rocky I)
Start trading with the smallest lots possible. 0.01 lots
This way, you’re trading real money, but not much.
You’ll get the emotional sting from losses, but not the big financial loss.
Focus on the percentage, not the $ amount you win. Did you profit 2%? 10? 35%?
Also, try to keep a journal.
Thanks alot…am consistent it’s just that am scared…you know that fear that comes with doing something for the first time
you are a funny folk… anyway thanks…i will do exactly that…am glad you offered some advice
Realise you can and will lose money - as does everybody. With the provision that you keep low risk and take care of your capital all the time, enjoy and have fun. You’ll learn a lot about yourself.
BTW, As a side hobby I am managing a live $63.13 account - the balance when I transferred a withdrawal to my other live account at IC markets.
Over the last 4 months, with the goal of a) not blowing it and b) gradually increasing it, I’m still afloat. So far it reached a high of $85.74 and a low of $46.33.
Currently running at $60.34. This patient and disciplined approach to trading would also hold you in good stead on your live journey. So don’t blow it…
Anxiety is absolutely natural feeling.
I’m trading live for some time now, but I have this kind of feeling whenever I try/test new approach.
I think it’s caused by lack of confidence and I manage to get the confidence by very slowly increasing the risk from minimal possible.
Right now I’m using this approach for my scalping adventure
I start with risking 10 PLN (roughly 3 USD) per week. If I manage to survive and make profit - I will increase it with another 10 PLN. Slowly adding the potential risk. I don’t care if this is 1% of account or 0.01% - If I can’t make money with small amounts - I will definitely won’t make it with higher stakes
It goes also another way around - if I see I can consistently build up from 10, 15, 20, 30 PLN - well the concept works and time spent on this small stake game builds up the confidence to start trading 2%-5% per trade.
Interesting question. I feel like a lot of us go through this but this isn’t talked about a lot. I mean, people usually ask about how to know they’re ready. I agree with what the others have said. Start with small lots, and minimal number of trades. Try to focus on 1 trade at a time while still getting used to trading live. Maybe starting a journal here could also help! It would be nice to also have guidance from experienced traders.
This is so inspiring i don’t know much about you but am so proud of what you are doing and excited to make it the way you are. Thanks alot for the advice. Btw for how long have you been Trading?
I think i will want to try this approach of starting small as i build my confidence along with experience. Thanks for the time offered to help me.
I actually think the way you do. The anxiety that comed with starting to trade a live account isn’t much talked about because my statistics say am ready but am sacred as if am not ready. Thanks for your time offered to help me.
I have a background in financial compliance over many years, which has resulted in me being very risk adverse in all walks of life, and which for trading FX is a two-edged sword.
Trading two demo $1k accounts daily since April 2020 up until December 2020, with the objective of treating it as if it was live trading action. 8 months of 12 hour daily stretches learning how to trade properly and proficiently. I am a prolific reader, and my trading absorption rate has seen a huge leap in my proficiency.
In Jan 2021 I moved to a live $1k account, followed by another $1k account in March, and here is where the two-edged sword was encountered. I hate risk, which led me to cut losing trades quickly, but prevented me from running winning trades.
I still have that emotional issue, albeit managed better, but which has prevented me from reaching the next level.
My mini account management, on reflection, is high risk in that I could make a 10% trade exposure per day. The upside is that a $6 loss or gain is no big deal providing I keep disciplined and patient with my trading process and strategy every day.
And the bonus is ongoing.
I suffered with a little anxiety in my earlier days Keep, sleepless nights whilst trades are open etc
all i was able to do to overcome at first was to Keep risk fixed. You know the saying, risk 1% per trade and you can be wrong 100times in a row. The anxiety is either down to too much risk taken on and you cant afford to lose what you have on the table or that you lack confidence in your strategy. Not everyone but alot are able to set a trade, a stop and tp and just walk away and totally forget… all this sometimes is… is a predetermined amount of risk that won’t be devastating to your account, if your wrong, fine next trade, if your right, fine next trade
Stop predicting the markets, just follow them and the anxiety will go away on its own.
I think this advice is so great because it’s my prédication of what could go wrong that makes me anxious all the time. Thanks
Best is to use small lots and only money you can afford to lose. Its a cliche but so true. Get more confidence and then up lots as you go
Start with an amount you won’t mind losing!
This feeling is common among new traders. However, it shouldn’t be neglected at all because emotions play an important role in your trades.
You need to introspect whether you’re ready to make trades. You can look at your performance in demo trading. If you make consistent profits, then you can start with real trading.
Too straightforward, but I like what you just said.
You’d better start with small sums of money.
Surely, the whole process of trading with real money will be different from trading demo, but you’ve got to start doing this because it doesn’t make sense to trade demo all the time. You should understand how much money you can afford to lose and start trading the same way as you used to when trading with demo. Don’t forget to follow the principles of money and risk management. THey are of great importance for you if you don’t want to lose all the money within a minute. You shouldn’t forget about slippages, spreads and other broker’s charges. You’d better make some amendments to your trading strategy according to the trading conditions offered by the broker that you work with.