I’ve heard this many times over, from my own tutor, to varies other (seemingly) seasoned traders. But I’m still confused. I have a tested strategy, I know the price action, I know and have back tested optimal entry times, I know when and how to place the trade, I’ve replayed and simulated the setup in Tradingview as if it’s real time (so I don’t see the setup after the fact) and over 80% is a winning trade.
Compared to others, I’m still new but I have the benefit of a tutor which cuts the learning phase and I’ve been studying a minimum 4hrs per day by myself for 6 months. I haven’t traded my strategy on a live account yet…but why would it still take me years to start earning, if I’ve simulated my strategy in real time and it’s profitable on demo and I know what I’m doing?
Please let a newbie know, because I’m assuming, I just have to repeat what I’ve been doing on demo. What am I missing please let me know.
Thanks!
Many traders will tell you it takes 10,000 hours of training and experience to be good at anything. This is not justified by the evidence available and is in any case a misinterpretation of academic studies.
Is there a reason why you are not trading a real account?
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Hi Tommor, thanks for posting!
I’m assuming the people who say that didn’t have a mentor and a working strategy to start from and had to figure it all by themselves.
“Reason for not trading live”…
Well, I have an over analysis problem and I’m afraid of losing…the usual newbie issues.
It’s got to the stage of trading paralysis. I’m just afraid of jumping in the mud so to speak even though I’ve been doing what I need to do on demo. I just repeat the same process right?..
thinking about it, maybe I’ve kind of answered my own question lol
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There you have it. Those and other problems are very hard to overcome for a lot of people. Some will fail and some need a few months or years to work on themselves. I needed 6 months to being able to trade my demo strategy successfully with real money. Before that i already spent 1,5 years practicing and learning about those newbie problems.
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I see. I understand now…psychology plays a big part for sure. Some more so than others. Thanks so much. I definitely don’t want to wait another six months to go live if I know what I’m doing, I know I won’t win them all and it’ll all go towards my experience I just to need to take the leap.
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The game changes when you put money in. Having to face losing money changes everything. Ordinarily this is the thing to be completely avoided in ordinary life.
But here, now, we’re trading, which is less like ordinary life with academic studies and professions and careers etc. and more like running a very small business.
Losing your account is definitely something to avoid. But trades which are losers are not actually losing money - they are not due to mistakes or carelessness or bad judgement, they are just overheads, like when you have to pay for your electricity or a phone line. Losing trades are guaranteed to occur in every strategy, so don’t worry about them, just make sure they are only as frequent and as large as you thought they would be.
Get trading, but start with very small position sizes.
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Sounds like you’re ready to take your next step. Why don’t you open a small real account and see how you get on when real money is at risk. If you’ve got your physiological stuff mastered you should be able to get the same results as your demo account.
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Bless you. Thanks guys, you’re giving me the courage to go for it. Much appreciated.
The Psychology of Trading: How to Create & Maintain Your Winning Edge
Jason Alan Jankovsky
Highly recommended.
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Yup this is what I’d say too! Should be fun! Good luck! 
Trading on a demo and real account are two different environments. On a demo, there are no emotions attached. On a real account, the only thing that will stand between you and consistently pull profits from the market based on your strategy are emotions. So, once you start trading on a real account, master your psychology. There will be loosing streaks and drawdowns, that’s when you emotions will come in. Lastly, you need to have a consistent lifestyle outside trading for long term earnings.