What was your first experience going live psychological in Trading the market? How did you handle it mentally.
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Nightmare as thought because I ran a large business it would be a walk in the park, however the reality was my arrogance was the the cause of failure because I did not respect the market and thought I could beat it. After sitting and getting to understand the situation with the guy who mentored me I came to understand I am just a guest to the market and should never out stay my welcome which is the foundation of how I am now a very successful full time trader
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It does take a lot of Endurance and the Hard work that is required for getting successful in the business of Forex trading. If you will know you can easily understand that the Psychological Aspects of trading in the Forex markets are very huge and we need to learn them.
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Very difficult. The main problem was I didnt know about trading psychology therefore I didnt know where I was going wrong. I kept thinking I was right and should be right. Therefore I over traded, over leveraged, added to losing positions, let losers run, cut winners short and all the rest. It was very frustrating. It took some hard lessons and reading to realise where I was going wrong. Generally I thought I could beat the market by myself and what I’ve come to realise is it’s a moving train going where it wants. I can only jump on for a ride not tell it where to go.
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going live trading from practice account is scaring and wonderful experience for all kinds of trader , i skip demo account so live trading was difficult to me. emotions works mostly when trading live from demo.
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My first experience placing a trade was a shock and highlighted the dangers still there today for new traders.
This was in the days when trading was by phone. I wanted to buy some shares - £1000 worth. I phoned the dealing desk and said I’d like to buy shares in Marks & Spencer. The dealer asked how many I wanted and I said I could only afford so many because I only had £1000 in the account, and he said, oh no, you’ve got up to £10,000 of credit, so you could buy 10 times the number of shares you thought.
He then said I had up to 20 days to pay for the shares. I asked if I could sell the shares within the 20 days and use the proceeds to pay for the purchase and keep the profit and he said, oh yes.
Since then I have never not been a trader.
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Thanks for this piece. Tbh, I’m in this shoes which i try to overcome those challanges and habit and be positive psychologically. So what are the measures you take to conquer the negative habit and be positive.
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Yea, i also spend a month on trading demo and went live.
But trading live account is scary than i think because my mental analysis was so poor that it took the best out of me.
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Funny. Thanks for sharing this piece.
emotions can be a first barrier when starting live trading , its very common but it causes a great losses during trading. by the way good luck
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I love this analogy
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I was a bit nervous then but now its all good. Wish you a good luck!
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good to hear that, hopefully you keep progressing
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Wish you a good luck!
My first experience in trading was with the broker ExpertOption. Although I am new to this industry, I was able to make really good money with it. I really liked this option.
Like anything else, just know what you are going through is normal and at some point you will become more comfortable with it.
My first trades were not Forex.
Oil stocks in the 70’s. When they started going down the tubes, I bought stock in a company that had loaned them money and was liquidating properties as fast as they could and paying the results in dividends! A no lose situation if it continued for 18 months (very high dividends!)
After about nine months, diamonds were discovered on one of the properties in Canada before they could unload it and the stock went through the roof! I sold it and had pretty good capital gains for the year.
My next trades were Futures: worked out alright.
After that I had problems in my personal life that influenced my mind and emotions and for a rather long time I couldn’t seem to do well at anything. So, my thinking is that when I am okay with just anything, I do better with everything.
Ya see HyperScalper’s Profile Picture? That looks like the right attitude. (Hope he doesn’t mind my posting it.)
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My first experience going live was a bit scary. I started forex trading last year and demo traded fo a month then funded my live account with 300 usd. Well I still remember my first 4 trades using 0.2 lot size gave me 20 bucx profit. Then in next hour was down 13 bucx from initial investment. Well to cut story short my account lasted 2 months and was blown. I changed lot sizing, changed strategies and overtraded. I also did revenge trading and being greedy. Went back demo trading and stuck one strategy and giving fair results am back live again. Forex trading is now enjoyable. Focus on the process and profits will follow.
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My first experience going live made me realise how different demo and live is. The overwhelming urge to close a trade the second it moved into profit was the hardest part, but the constant monitoring of trades in the hope they would turn profitable was a close second. It was a great, if financially costly, learning experience, and moving back to demo was a good call for my overall journey. The trades I took back then I wouldn’t dream of taking now, but now I know why I shouldn’t.
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In general, the history of starting work on Forex is quite interesting. For a long time I was afraid to start working with it because I was afraid to lose money. As a result, he decided to start, and eventually lost his first deposit. It is difficult to describe feelings in words when I realized that money could not be returned. But then he pulled himself together and was able to work out and make a profit.
Horrible, my heart keeps pumping like crazy as like I was panting from running a marathon. 
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