Hi, I’m a new trader.
I traded demo for 6 months until i was profitable there.
Then i went real with £500 and lost half of my acc in 2 weeks. I was gutted and thought all my dreams of being successful were over, because it just wasn’t working in the real world like it was on demo, and i didn’t know why. But i didn’t stop, i got even more into it, finding websites like this, learning to follow certain relevant economics news updates for potential catalysts to trends, i bought and read books by Van K. Tharp and Jack D. Schwager (Which i highly recommend doing), re-thought my strategy and since then, 10 weeks later, i’ve clawed my way back and finally tipped onto the profitable side, on a slow but steady uphill journey into profits.
This was very shocking for me trading real money, my psychology changed, and i had to adapt with it, i now respect this as a great skill that takes many many hours of dedication to craft, but now i believe i can do it. You can too, you just have to find what works for you. I’ve learned that no one strategy is right/wrong, you have to figure out your own way of moving until you get something that works because there’s so many ways of being profitable but not many methods will work with who you are as a person. If you struggle still, go back to demo and try out stragegies there first, use technical info for clues on trends and price action. Market Milk for example. Use these free tools to help you figure out what big moves could be coming. Analyse the markets, but also know that there are full time jobs where peple are paid to just analyse markets, so don’t be afraid to read what expert are saying and then decide for youself it it’s worth following. Learn how the markets work. EG - Gold tends to have 6 month highs and lows, and is affected by things such as presidential elections, Oil can be seaonal as perceived demand increases and decreases and hotter and colder times of year etc, read and learn, arm yourself with information that can help you figure it all out, then use demo to test these ideas. Stay hungry for success and You will get there. I’m not there yet, but i know i will be if i just stay hungry for it - that’s what i would say, if you’re truly hugry for this to work, you’ll keep at it until you get there.