Went live this week for the first time in a while

I had stepped out of trading for a couple of years or so. I went to a Chris Lori seminar back in November 2008 and got back into trading. After trading demo for approximately 2 months, I decided to go live. Every demo account I had was positive. My first week of trading live, I lost money. I made some rookie mistakes. I had a couple of trades that would have been big time positive but my silly mistakes turned them into break even or losing trades.

After reviewing my trades for the week, my confidence actually went up. I saw where I was making mistakes and I saw some things in my psychology that needed work. (I am BIG into trading psychology at this point in my trading life.) One thing I have learned... I can't change the market but I can change me. Upon review of my journal, I saw my system was working but I wasn't. Those things are fixable.

Anyway, a funny story to encourage those of you in the same situation I am in. I was speaking with my cousin about trading and my phone battery died. I come inside and plug it into a surge protector to charge while I tried to call my cousin back. I turn on the phone and it immediately dies. I turn on the phone again and it immediately dies. I start getting frustrated. Finally, I look down at the surge protector and see that it is off. LOL! That's when God opened my eyes. Shoot, I know how to charge a phone but I made a simple mistake. Some of my trading was like trying to turn on that phone while the surge protector was off. We all do silly things at times in the market. Doesn't mean we don't know what we are doing. It just means we need to pay better attention.

I got a good chuckle out of it. Perhaps you will too.

One parting note... When I read this forum, I see many systems that are working and the same systems that are failing. Why? Because if the system is decent, it will work for those with proper psychology. That's why one person can trade and win and another trades and loses. I know of people that get into a trade going in opposite directions and BOTH win. Why? Their psychology is excellent.

Happy trading,

Mark

Was there, did that.

All demos are possitive and then magically when you go live, you lose money. But this problem has a simple explanation.

95% of people lose money in forex. Only 5% make a profit month after month. Of those 5%, all of them have been trading for years and some have a PHd in some area.

Yes, someone can come here and say: "Hey, I have read babypips and only started 2 months ago and I already did a profit last month". Luck is always a posibility. I'm talking about the long term.

To this day I have NEVER EVER known of a forex trader who does a steady income of at least 3K, month after month, for a period of 1 year.

Just try to open a thread that says: "How much do you make in FOREX?" and you will see that everyone will just answer with jokes, or with angry responses. Nobody will tell you that he makes money, for the simple fact that they don't. You will see 1 million of different Forex Trading Systems and you will WASTE days and months of your VALUABLE TIME reading each of those Systems and seeing how they CHANGE with time... To end in page 4567, and see that the conclussion is that the System didn't work and the creator has never come back to the forum.

well,my last 2 monthly checks from oanda were for $10k and $12k,but unfortunately that isn't my usual monthly check of $4-$5k.

started 6 years ago and spent the first 2 years slowly losing money then the middle 2 years getting back to even and the last two years have been great.

this last year with the financial meltdown and wild currency markets have given me many great mornings of waking up and seeing my trades up several thousand dollars whle i slept.

agree with it being a waste of time reading all the interactive and trading system threads with the techies and "experts" being wrong half the time but lying about it and being right half the time and bragging about it.flip a coin and any idiot can be right half the time.

technicals and charts are good for trends and entry and exit points but fundamentals rule.at least my last 2 years have taught me that.

Dude, i saw your post about stock market being better than forex, and all that yapping, trying to discourage people from forex.....i tried not to reply there but seeing this again, man!, lol, i can't help it.

No offense man, but just because you failed trying to trade forex or because you had a bad experience with this business doesn't mean folks aren't making money trading the forex market.

There is no difference between demo and live, what might change is your emotion or psychology because you're dealing with real money, or you haven't get good enough on demo before going live.

I know probably your first question to me is are you trading profitably. The answer is no, lol, not at the moment, am owning my skills on demo, and it's been great....

I personally know a couple of people that make a full time living trading forex. The thing I hear over and over and over again is it's all about psychology.

3k per month? My mentor makes 6-10k per week on average!

Here are some posts that possibly offer a more diverse perspective:
http://www.forexfactory.com/showthre...103#post176103
http://www.forexfactory.com/showthre...20#post2212020
http://www.forexfactory.com/showthre...799#post205799

Insufficient Info.
Without Averages...
Q1) What is a Good Week? Better yet... Best Week?

Q2) What is a Bad Week? Better yet... Worst Week?


Just asking...

I totally agree - no mention made of account size, leverage, worst case drawdown, risk profile, consistency, ......

Dude, show me your results.. I want to see them.. and 1 year long results..

Wake up. Or do you still have the dream of becoming millionaire, or at least doing a living from your home, by trading forex? WAKE UP already.

The forex market is a zero-sum game, meaning that whatever one trader gains, another loses, except that brokerage commissions and other transaction costs are subtracted from the results of all traders, technically making forex a "negative-sum" game.

That's why 5% of hungry VULTURS collect the thousands of dollares that the 95% of the rest innocent dummies lose on a daily basis.

In a typical case, investors may be promised tens of thousands of dollars in profits in just a few weeks or months, with an initial investment of only $5,000. Often, the investor’s money is never actually placed in the market through a legitimate dealer, but simply diverted – stolen – for the personal benefit of the con artists.

And yes, I totally discourage people form losing their money. You courage them for LOSING IT... That makes you A BAD PERSON, you know. And you NEVER did 10K by trading in forex. In fact, I seriously doubt you ever did 1k. U just demo or lost money.

If you are going to follow "Con Artists" is not my problem. It's yours.

Sounds like somebody is losing a bunch of money in the markets...

Dude, i saw yet another one of your discouraging post, infact i'll try to compile them, lol, am just curious to know how much you lost that made you so dedicated to save everyone from forex.

http://www.forexfactory.com/showpost...9&postcount=23
http://www.forexfactory.com/showpost...61&postcount=5
http://www.forexfactory.com/showthre...35#post2504935
http://www.forexfactory.com/showpost...&postcount=131


I'll be glad to show you results whenever i go live....

All Said.

I knew u were just another liar hypocrite.