Hi everyone, ive been demo trading probably for around 6-7 months and continue to do this for longer.
Recently, i have been back testing my strategy. When i back test i can perform quite well, however, when i start to paper trade all my trades just end up losing. I feel this more of a patient issue rather than skill. This may because i sometimes use 10x and 3x when replay trading . I want to hear what others may think.
If some agree it is a patient issue, how can i become a more patient person?
To develop patience, lengthen your time-frame, select a major target market and look for only the best set-up before trading. Open your trades via an entry order set in advance. Until this is all working highly effectively set a take proft order at the same time as you set the entry order.
The great thing about replay is that you can learn and test strategies at hyper speed, you can go through years worth of price data in minutes.
The downside is that real time in comparison goes at a snail’s pace. It took me awhile to adjust.
What helped me was to separate trading (buying & selling) from analyzing. I spend most of my days analyzing markets to stay a couple of steps ahead of the current movement. It’s easier for me to be patient when I can focus my attention on something other than watching my open positions.