So i demo traded the whole summer, in 5 months starting with 500 of fake money and turned it into $3000, using a very arbitrary strategy that involves buying in pieces (buying at support or selling at resistance, then if it goes against me buying/selling at the next sup/res as long as it is at least 100 pips away), 2 currencies that arn't exactly correlated but follow similar direction (i did this as it adds a bit of diversity, one might go into profit in that case i would funnel those profits into the losing position) and buying and buying if it goes against me up to a maximum leverage of about 15x (I only had to get up to that point once) the majority of the time it was 5-10x.
I have started doing this now for a month and a half with real money, about $200, am up to $280... however the thought of trading without a stoploss is scarring me every time i take a position, i am trading exactly the same way as i did the demo account and have a similar goal. How can i go about transitioning to using stops... my strategy isnt exactly stop friendly and my ego HATES losing.
please help.
Thankyou for the responses and i'd appreciate the input of some seasoned traders that successfully use SLs.
-Pat
I have started doing this now for a month and a half with real money, about $200, am up to $280... however the thought of trading without a stoploss is scarring me every time i take a position, i am trading exactly the same way as i did the demo account and have a similar goal. How can i go about transitioning to using stops... my strategy isnt exactly stop friendly and my ego HATES losing.
please help.
Thankyou for the responses and i'd appreciate the input of some seasoned traders that successfully use SLs.
-Pat