Been at this around 5 years mostly paper trading. My pattern is find a trading strategy, back test, then paper trade if profitable begin to trade real money. However soon as I switch to real money my “winning” strategy loses me money. Then find a new strategy - rinse and repeat.
I’m aware there’s a lot wrong with my psychology revenge trading seems to be the worst. However so far I’ve stuck to my rules with real money but trades are just going against me. Makes no sense same rules wins on paper - loses with money.
5 Years is a long time to do trading with paper money.You can test many strategies in less time as give one month to a strategy to prove its effectiveness. I was able to get real money from forex trading within 2 years.
Even if you follow the same strategy from papers the real market reacts in a different way sometimes! You have to be double cautious with your trades and find a new strategy for the real account.
I got your problem! Next time, please open a Cent type live account! Now you need to work on sentimental analysis with details! But I have 1 question to you, how many months do you use your strategy on demo before live trading?
This is why I have always been against demo trading. I think it has a place in terms of learning your way around a platform, but to me that is the extent of it. I don’t believe it is a very effective method of learning to trade. This is just my personal opinion, but for me I started live immediately. I understand this approach may not be for everyone, but for me, I needed to feel the real psychology of having real dollars on the line. Did I lose money? Of course. More than I care to admit, but I have never blown an account because I have always used strict risk management despite how poor my strategy may have been. I suggest you choose a strategy and give it a reasonable length of time to be tested with real money. Yes you will lose money along the way but that is the cost of doing business. At the end of this period of time you should be able to determine whether the strategy has any potential or not.
If you did not found your strategy in 5 years, I think the problem is not in the strategies you have tried. You have to change your approach; you may guess what the problem is.