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Making money on Demo but not on Live account

  • #1
  • First Post: Jun 12, 2008 4:43pm Jun 12, 2008 4:43pm
Hi,
I am in a dilemma, I make consistent profit on a demo account, but i have never gotten around to make it happen on a Live account. I have read over 30 books on discipline, emotion, greed and patience. But, on a live account, all caution is always thrown to the wind.
Can anybody offer any help
Let your plan trade for you, not your emotion!!!
  • #2
  • Jun 12, 2008 4:48pm Jun 12, 2008 4:48pm
Do you use a 100% mechanical system?
  • #3
  • Jun 12, 2008 4:51pm Jun 12, 2008 4:51pm
I was the same so I tried to only make 1 trade per week and once I hit my tp stop trading to help me stop over trading.
I was looking for the trade and not trusting my system.
  • #4
  • Jun 12, 2008 5:24pm Jun 12, 2008 5:24pm
Quoting xremmy
Hi,
I am in a dilemma, I make consistent profit on a demo account, but i have never gotten around to make it happen on a Live account. I have read over 30 books on discipline, emotion, greed and patience. But, on a live account, all caution is always thrown to the wind.
Can anybody offer any help
Xremmy, welcome to the forum.

Off the top of my head, I see three possibilities:

1. Your broker is cheating you. Usually this isn't the primary reason for losses, but nonetheless:
-- Find out for sure, in your own mind, by establishing a pattern over a large enough number of parallel trades, both in demo, and live, with the same broker.

2. You have a problem (psychological?) when real money is involved:
-- Find a broker who allows microlots, and grow your account gradually, increasing lot size when you feel comfortable.
-- Play only with risk capital, i.e. money you can afford to lose.
-- Manage risk: discover what is the largest loss that you can handle emotionally, and set your stoploss/pozition size accordingly.
-- Only trade a system that you have total confidence in; if you don't, it's generally too hard to maintain discipline, when a sequence of losses occur.
-- Consider using a fully automted system (EA or robot).

3. Your results mean little, because you haven't traded long enough to attain any kind of statistical validity. 7 wins out of 10 means nothing. 700 wins out of 1,000 suggests some kind of pattern.

Good luck,
David
  • #5
  • Jun 12, 2008 9:30pm Jun 12, 2008 9:30pm
What you are experiencing is not unusual. I don't recall where I got this but you may wish to read this and put the plan into action.

Developing a trading psychology plan - Barry Lutz

Quoting xremmy
Hi,
I am in a dilemma, I make consistent profit on a demo account, but i have never gotten around to make it happen on a Live account. I have read over 30 books on discipline, emotion, greed and patience. But, on a live account, all caution is always thrown to the wind.
Can anybody offer any help
Attached File(s)
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In trading, there is no bullshit. You either make money or you don't.
  • #6
  • Edited Jun 13, 2008 6:38pm Jun 12, 2008 9:57pm | Edited Jun 13, 2008 6:38pm
It's all psychological. What's making this happen is fear. Not judging you, I've been there. I'm still there sometimes. (June 13th 2008 edit: I've been there last night and while i didn't lose money, I have left some on the table because of fear. Goes to show that I'm certainly not immune to it).

Out of the 30 books, was one Trading in the Zone? I'm asking because it covers the topic of fear really well.

Just start with the smallest lots. The kind where even the largest loss would still be so small that it will not matter.

The flip side of the coin is that your gain will not be that large either, but learn to walk before you can run. Gradually go up from there. I've been live since April and it's working for me so far. I hope it will work for you.

Happy Trading
Not all sins are created equal
  • #7
  • Jun 13, 2008 2:33am Jun 13, 2008 2:33am
Quoting mrgreen
What you are experiencing is not unusual. I don't recall where I got this but you may wish to read this and put the plan into action.

Developing a trading psychology plan - Barry Lutz
Thanks, MrGreen, interesting read.

David
  • #8
  • Jun 13, 2008 3:54am Jun 13, 2008 3:54am
Quoting Jay Walker
It's all psychological. What's making this happen is fear. Not judging you, I've been there. I'm still there sometimes.

Out of the 30 books, was one Trading in the Zone? I'm asking because it covers the topic of fear really well.

Just start with the smallest lots. The kind where even the largest loss would still be so small that it will not matter.

The flip side of the coin is that your gain will not be that large either, but learn to walk before you can run. Gradually go up from there. I've been live since April and it's working for me so far. I hope it will work for you.

Happy Trading
wat he says is true , this is the best remedy , cut down on lots size till u stop worryin about ur trade , then slowly increase it everytime u make a win ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #9
  • Jun 13, 2008 4:06am Jun 13, 2008 4:06am
My advice, stick to your system, do not deviate, and test for at least 2 months.
  • #10
  • Jun 13, 2008 7:53am Jun 13, 2008 7:53am
Quoting xremmy
Hi,
I am in a dilemma, I make consistent profit on a demo account, but i have never gotten around to make it happen on a Live account. I have read over 30 books on discipline, emotion, greed and patience. But, on a live account, all caution is always thrown to the wind.
Can anybody offer any help
Two Thing's are there!!!
1) Fear
2) Patience

OverCome on your fear & trade with patience while trading live. Coz Automatically you are doing the same on demo but on real This is human nature you are not doing this.
  • #11
  • Jun 13, 2008 2:22pm Jun 13, 2008 2:22pm
Thanks everyone.
I guess its my greed thats in play, am always looking for homeruns with all my trades. cant stick to "little drops of water make an Ocean". I have made my self a new rule[ 5pips, nothing more, somthing less] .
Thanks a lot everybody
esp Hanover and Mrgreen (it is a lovely book)
Let your plan trade for you, not your emotion!!!
  • #12
  • Jun 13, 2008 6:48pm Jun 13, 2008 6:48pm
Quoting xremmy
Thanks everyone.
I guess its my greed thats in play, am always looking for homeruns with all my trades. cant stick to "little drops of water make an Ocean". I have made my self a new rule[ 5pips, nothing more, somthing less] .
Thanks a lot everybody
esp Hanover and Mrgreen (it is a lovely book)
I understand why you want to implement a 5 pips self limitation. Mine was 10 pips. Thankfully, it was in demo because I found it to be a surefire way to the poorhouse.

If I can suggest something, don't limit your profits. Let them run.

When a trade goes against you, then you want to make up for that loss. You're then chasing after 10 pips. If that trade goes against you, you're then chasing 15 pips, etc...

Be rigid in your plan and flexible in your expectations.

Happy Trading
Not all sins are created equal
  • #13
  • Last Post: Jun 14, 2008 10:37am Jun 14, 2008 10:37am
real account is so different with demo
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