Guiding question for FTT trading in Olymp Trade

#1

Hello!

Just some help here, I don’t know what to do but how can I be a professional trader?

When I use the virtual account I win trades, but in the real account I lose, I do not know what is happening to me.

  • What is the solution in your opinion?
#2

search for “Is it always right to start with a demo account?”
I ask some probing questions on this topic and get some answers

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#3

at virtual a/c u got big sum of virtual money, and u might trade a lot on virtual . So that means if u have real trade u must know your trading behaviour something like:

  1. the products you trade, like forex or shares or ETF. And also CFD risk.
  2. you set profit and set loss, and risk of reward.
  3. Suggesting u trade fixed amount of each trade, then can easily control.
  4. Know your leverage . Suggest u have small leverage first if u small capital.
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#4

The only issue I would have with a demo account is it’s not real, your risking “Monopoly” money, so there is no emotion or fear attached, also you don’t have to trade the same as someone in a real time set up.
It can help with with learning the technical side of trading and also with your trading plan.
But there is more to trading, fundamentals. sentiment, then your own real emotions, fear, greed, which will all play a part especially when hard cash is involved.
i never traded a demo account, I was advised to jump in feet first and in the deep end, luckily I had a and use system which suits me and and although I’ve gone under a few times I’ve never drowned, in others words blown my bank.
Take small steps one of my sayings by the inch it’s a cinch by the yard it’s hard, small stakes, look at your stops not too tight, but give the trade air to breath.
Manage your trades, keep an eye on the news CNBC have alerts come your phone, can give you a heads up on the ups and downs.
If a trade is going against you know when to cut your losses, probably the one weakness of most traders, let winners run but know when to take a profit and cut loose.
Most importantly manage your account, don’t chase losers take the hit, but make sure your stake size is the right percentage of your bank.
You’ll never win all the time but the object of the exercise is to get a high strike rate, and profitable winners.
Hope this helps.

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#5

Thank you for these ideas, they will help me how to overcome the fear and greed that cause me to lose and lose so much.