It's known by all traders that trading a demo account once you have found a methodology that works is easy, those profits just keep escalating. But when it comes to trading a live account, all the common pitfalls come into play - failing to pull the trigger, taking profits too soon etc etc. What's going on here is that we start thinking, something we don't do when we place a demo trade, when we just see the opportunity and go for it, without the " it doesn't look quite right ", or " that MA needs to be a bit lower " etc. We all know that this is fatal, causing frustration, anger at oneself, and ultimately, negative trading results when we know that we are far better than that.
I'm not about to propose a solution as we all have faced/are facing/will face these problems, but I will say that the best traders don't think too much, if at all when it comes to pulling the trigger, they just go for it, following their plan trade after trade. It is the only way to succeed in this game.
I'm attaching a short video from one of my favourite sports, Biathlon, which demonstrates how biathletes can routinely hit five shots out of five when they are training, but as soon as they are in competition, where each and every shot they make counts, they can easily miss all five if they let their thoughts get in the way. It is the same with trading, and therefore I think it is a very good analogy.
Any comments are welcome.
I'm not about to propose a solution as we all have faced/are facing/will face these problems, but I will say that the best traders don't think too much, if at all when it comes to pulling the trigger, they just go for it, following their plan trade after trade. It is the only way to succeed in this game.
I'm attaching a short video from one of my favourite sports, Biathlon, which demonstrates how biathletes can routinely hit five shots out of five when they are training, but as soon as they are in competition, where each and every shot they make counts, they can easily miss all five if they let their thoughts get in the way. It is the same with trading, and therefore I think it is a very good analogy.
Any comments are welcome.
Inserted Video