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My mentality - my problem

  • #61
  • Mar 1, 2013 1:40am Mar 1, 2013 1:40am
Quoting Slim Buffett
That's what I'm trying to say.
Second, I suspect that you're not going to quit now (cheers for you) so put some real
money up. You've apparently been trading long enough to know that it isn't a video
game. Prove it to yourself

The amount of money doesn't matter. It should be enough though, to make you feel
uncomfortable if you lose it

You can trade for pennies
dimes
dollars or
millions

just make it real

best of luck.... it's all in your hands and no advice that you're going to get
on this forum will help your mental...
Hi

I have topped up my account with 100quid just few weeks ago, as I was confident that I can trade real.
I'll spare your time for reading the long story. the short story is that I screwed it. and it was not because the system. it was because I wanted to gain too fast. That's why I want to practice demo for some longer period of time. If I can prove myself I can do it then few months of delay in going in with real cash won't make a difference, if greed will kick in I will loose only virtual cash. I am in a financial situation when I cannot afford to loose more money.
On my way to financial independence - if others can do it - I can do it
  • #62
  • Mar 1, 2013 4:23am Mar 1, 2013 4:23am
Quoting Eur Usd
if greed will kick in I will loose only virtual cash.
I am in a financial situation when I cannot afford to loose more money
Generally greed occur only with real cash. Your mental is completely different between demo and live.

Keep this in mind especially if you can't afford to loose more money.
MT4/MT5 EAs/Indicators/Alerts coder
  • #63
  • Mar 2, 2013 2:07am Mar 2, 2013 2:07am
Quoting FerruFx
Generally greed occur only with real cash. Your mental is completely different between demo and live.

Keep this in mind especially if you can't afford to loose more money.
greed appears on demo as well - it is a different greed, its greed for good achivement, greed to prove that the system works and this bias pushes me to topup live account
On my way to financial independence - if others can do it - I can do it
  • #64
  • Mar 2, 2013 2:18am Mar 2, 2013 2:18am
Quoting Eur Usd
greed appears on demo as well - it is a different greed, its greed for good achivement, greed to prove that the system works and this bias pushes me to topup live account
Really, I can't agree. Greed is greed and will ruin your effort once you go live ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #65
  • Mar 2, 2013 2:25am Mar 2, 2013 2:25am
Quoting FerruFx
Really, I can't agree. Greed is greed and will ruin your effort once you go live ...
that's why I want to fight it on demo first. I know on live acc I am more greedy, but if I'l prove myself that by constantly doing 3% profit (on average) a trading day will lead me further than "one step forward, two steps back methods" I'll get there

next week I can trade Mon-Thu so it's 4 days. I'll do my best to stick to the rules, and to stop greed. Last week I got 10% profit, but am not happy with the way I got it. Ok, enough moaning, or somebody will say I am seeking attention again :-)
On my way to financial independence - if others can do it - I can do it
  • #66
  • Mar 2, 2013 8:59am Mar 2, 2013 8:59am
We are all watching you and expecting you to perform like a pro and not like some silly kid who can't control himself. Do not let us down.
  • #67
  • Mar 4, 2013 3:32am Mar 4, 2013 3:32am
daily target hit - 3,2% profit today
On my way to financial independence - if others can do it - I can do it
  • #68
  • Mar 4, 2013 3:37am Mar 4, 2013 3:37am
Quoting Eur Usd
daily target hit - 3,2% profit today


Go Go Go ... close platform and enjoy life ... and see you tomorrow
MT4/MT5 EAs/Indicators/Alerts coder
  • #69
  • Mar 4, 2013 3:38am Mar 4, 2013 3:38am
I think I will do so, got my profit, time to rest ;-)
On my way to financial independence - if others can do it - I can do it
  • #70
  • Mar 4, 2013 3:39am Mar 4, 2013 3:39am
Quoting Eur Usd
I think I will do so, got my profit, time to rest ;-)
This is the way to do to remain positive ... at least today!
MT4/MT5 EAs/Indicators/Alerts coder
  • #71
  • Mar 4, 2013 3:41am Mar 4, 2013 3:41am
personally i think having target is actually the "thing" that can affect my psychology. I trade based on what I see, based on my trading plan, i just take every trading setup. That way we can control our emotion...well im not a M15 timeframe trader so i dont trade every day. maybe this is why it's actually better to not have any target (if you are like me). Just get in every time we see the setup. Because there are times when we dont take the trade then it turns out to be a profitable one while we enter the next one and we lose...it's better to take everything and see the result by the end of the month

One more trick that did it for me, in MT4 I changed the profit tab to be "as points" instead of "as deposit currency"
  • #72
  • Mar 4, 2013 3:43am Mar 4, 2013 3:43am
Here is the trades I took.
Green circles are entries, red is exit. I could wait a bit longer as it went down 20 pips down more, but how could I predict it? ;-)

some more info: violet line is 200 EMA, yellow is 35 sma, ogange-ish is 50 EMA, and blue is 10 EMA
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 110 KB
On my way to financial independence - if others can do it - I can do it
  • #73
  • Mar 4, 2013 8:18am Mar 4, 2013 8:18am
I've spotted another opportunity (which appeared to be bit too risky) but got some more cash. profit for today is 5,8% and I am out for today for sure.
time to make dinner, clean the house, and gym after it ;-)
On my way to financial independence - if others can do it - I can do it
  • #74
  • Mar 4, 2013 9:59am Mar 4, 2013 9:59am
I don't think I can ever manual trade consistently, safely...I always let my emotions get the best of me. That is why I know an EA is the way forward - take the emotions out of trading.
  • #75
  • Mar 4, 2013 1:36pm Mar 4, 2013 1:36pm
Try and Trade even £10 , demo account is not even a little representative of the actual thing.Trust me , emotions are moe important than the actual system , so if I were you I would ditch the demo and deposit even £5 , its better
  • #76
  • Mar 4, 2013 1:39pm Mar 4, 2013 1:39pm
good or bad Mentality / good or bad psychology is a cope out for a problem that has no solution.
It's not you dummy. The problem can't be solved so stop obsessing.
  • #77
  • Mar 4, 2013 2:04pm Mar 4, 2013 2:04pm
I still have 8quid on my live account ;-)
the point is that it pisses me off when I see daily profit of 20p a day.
at 500 account I see a profit of at least 15quid which is already worth trading. I wrote before my reasons ;-)
On my way to financial independence - if others can do it - I can do it
  • #78
  • Mar 4, 2013 3:03pm Mar 4, 2013 3:03pm
for me,it was the wait!
I had an entry point,i have an exit point!
The only issue was the psychology of having to sit at the desk for the period waiting fot the trade to close!!
(eg. I had 17 trades yesterday-15 winners/2 minor loses) total 8 hours trading.
Daytrader
  • #79
  • Mar 5, 2013 3:20am Mar 5, 2013 3:20am
and today I got crazy. That's why I don't want to trade real money yet. If I will handle till first April I will start from 50Pounds account
The point is I am afraid to loose. I am affraid to have less than I had before. I am a shit trader
On my way to financial independence - if others can do it - I can do it
  • #80
  • Mar 5, 2013 3:28am Mar 5, 2013 3:28am
Quoting Eur Usd
and today I got crazy. That's why I don't want to trade real money yet. If I will handle till first April I will start from 50Pounds account
If today you are not ready on Demo ... you won't be ready on LIVE on April

If your problem is emotions and you can't master them on Demo ... you have a long process to do before going Live.
MT4/MT5 EAs/Indicators/Alerts coder
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