To be honest I just jumped in. I didn’t even have a system, only $300, I know, I know its blasphemy! So I lost half the account in no time. hahaha … Best thing that could have happened!! Why? I buckled down developed a system, tested on demo, then went back to trading. Alright, I’ll give you an example of what it feels like. When you lose, it’s like losing a sports game, doing bad on a test, etc. Winning is the opposite (winning a game acing a test, etc.). You may say, it’s not that bad but we are talking games and tests that mean alot to you ( slightly more amplified, but same feeling). Right when you enter a trade you will get butterflies in your stomach, like just before a game race, test starts. It hurts even more when there are consecutive losses. Think about failing half way through a semester and only the final can help you or being in the final game of the tournament, things like this take your discipline away. You get nervous and instead of using the system you don’t take the system’s signal or enter arbitrarily. DON’T!!! I cannot stress this enough. I’m telling you, get this, I had a long string of losses, and as I took my signal the next time, it hit my stop and made a HUGE move. I was so upset, I just said forget this, and when the next signal came, I missed it, another HUGE move. Well, Things like this happen to you if you don’t follow your system. Oh and one last thing, you know those places that promise a certain amount of pips per week/month do not follow them. I tried, they only steer you away from your goal. Your only piggybacking on other’s success (if they work) but most don’t work. That is how I lost half my account to start with.
Anyways best to you, and I hope this helps. Sorry for the lengthy post!
Stay Cool, Take it Easy!!