I finally got a whoping $30 deposit to go through, my first one didn’t go through. Have been learning about the Forex for about 5 years no, demo trading for about 3 or 4 years off and on. I take a break when I get fustrated, Recently noticed I took my demo account up half way to my goal, but also wanted to trade live before the end of the year and close the year with a profit. I don’t care if I close with a penny profit just proof that I can do it and still keep my cool.
So here I am in the middle of a trade I bought EUR/USD this morning seeing that its going to most likley go up sometime mid-late week (Or so I assume by price action) I’m so excited that I had to come in here read a bit and calm down and I figured while I’m at it I’ll post this and see what replys I get. Feel free to respond with your first live trade jitters. I’m not as nervous as I thought I would be although I’m watching it like a hawk (With a hands-off approach)
Your first live week is definately nerve-wracking… it feels like you’ve got everything on the line. I still remember mine quite well because it was only two weeks ago… I must have studied those charts for hours, making sure I was doing exactly the right thing… haha. At some point you just need to get away from your monitor, or you’ll start to go nuts and second-guess yourself watching it fluctuate up and down all day.
If I may suggest, don’t try to proof anything to anybody (including yourself). Enjoy trading like you enjoy PS2 or watching good movies. Take it seriously like you learn to ride a motorbike or driving a car. But don’t try to proof anything to anybody like you’re in a racetrack or in Olympic games. Trying to proof anything to anybody in trading only put excessive pressure to yourself.
I’ll be shorting EUR/USD after whatever retracement it does in the next little while. As far as going live. You should have done that years ago. But hey on the up side you should definately be ready now. I see you’;re starting small, thats good. Just make sure its not so small that there is no difference between that and demo trading. If its not enough to matter then you’ll never learn the psycological side which imo is the hardest part of the game.
Wow so many replies and so fast – God I love this site!
Ok let me start at the top to agree/argue/etc…
Yarcofin: I was/am doing that and that was my reason for my visit today; I calm down looking at this site. This site helps me realise that I’m alot further along then I used to be and while granted there are a few things I dont quite understand I’m getting there!
IDR: I wish you would have told me that awhile ago; I made two goals. First (starting mid last year) double my account and trade live (with a profit ) before '09. How I was trading then and how I traded after that goal are drasticly diffrent. For example I pushed harder, hoped more etc. For example, right now the market is moving against me I used to get agitated/irritated and now I’m not. I know the market will turn around – I’m not sure if it will before my stop loss, but it will. I’m seeing signs of it turning around but there are also signs that it will continue its downtrend – story of my (trading) life!
randont: I didnt think I was ready nor was I financially able to invest, therefore I would have pressured myself to save money I needed/make more I need. Now I’m not saying that I couldnt use the money but I’ve set it up so that untill about the end off the year I wont need atleast 3/4 of my income! This allows me to save more (I need to save up ~$400 by December) and invest (I can loose all of it, stop trading the last two months and get that ammount)
I’ve actually dropped my bills to $125-$150/month to allow me to trade financially-worry free. This will help me ease into trading and see how well I do live, and if I do half as good as I did in my demo I’ll be ok, but thats assume I don’t learn more along the way. I enjoy the journey.
Way to go … It will come to you… After the length of time you have been studying. You should have a good feel for the currencies… I am wondering if you got out this morning when it went back up. Or are you waitng for it to get closer to the weekly or monthly high.
*** today i need to 12 guage my laptop* and 4x…yes im in the hole,buttttt,momma said there would days like this,lol…im still a newbie,so ur gonna burn the bacon every once in awhile,but the 4x seems to be messed up right now,all the negative reports coming in on the wires mess up ur system and the tools and rules get turned upside down,well thats my 2 cents worth,we will live to fight another day,aamen
I havnt been studying full time and most of it was demo time, I would take a break if it fustrated me (you can figure on atleast a year of ‘off’ time.
I’ll make it I’m just trying to keep myself in check, I did alot of stupid things this morning and just recently recoverd half of my stupidity (took quite awhile) mostly got it back with the euro/dollar may post my trading record but am embaressed because I was being stupid – better to post it when I’ve learned my lesson after licking my wounds. Account balance to date is: 67.68 the other money finally hiti my act… have more on the way but had a few unexpected bills this month so… o well… I’m -5.37 to date P&L it was over $10 – I was being really stupid… I am trading high lots however, sometimes %100 percent of my account, I’ll do this up untill my account is over $300! Yell at me if you want, this is the way I’ve decided to do it – you wont change my mind, only I can do that.
As far as the other ham out there 73’s to ya - KI4YHE
I was mostly riding it down, but I didnt follow my plan I got too excited and when I did I gained back around half of what I lost being stupid.
The time I’ve been learning forex just FYI includes hearing about it, and when I started babypips wasnt around or I would have been alot further alot faster, and I just tried diffrnet plans would get fustrated and take a break… I have no problem taking a break from a demo, or live account I’ll manage my stress then my emotions then my account. Thats just how I’m going to play it, I’m not an expert but I really wish I was – but like most of us I’ve been balancing several things including a fulltime student, 40+hr wk job, and other responsibilites, currently I’ve made it so its not so harsh, I’m working a job where I can trade most of the time and am finishing school.
Happy pipping, I’ll make it I just needed to talk about my recent attack of the stupid.
