DislikedMy third attempt to make trading work on a live account. Lets see how it goes. Started trading from 18th May(Ex-Alpari client). {image}Ignored
A very good luck to you mate!
I'd just like to point out that you seem to have a very good percentage of wins overall but they do not translate that well into profits... It's probably new live trader skittishness at work (I-m not completely rid of it myself). Maybe you should try lowering your trade sizes even further? Bold plays make money but it's hard to be bold when you know you're playing with real money... It's much easier to weather through inevitable drawdowns and to add to positions and all the other money-management strategies when you're not sweating about burning your account.
Also, a lot of very succesful traders I know actually have less than 50% win ratio (sometimes much less)... I've noticed that your per-loss is much greater than per-win. Cut your losses and run with your wins, I know it's much easier said than done, but maybe lessening the pressure by lowering sizes might also help with that. An account this small is really just a continuation of training so don't try to make serious money with it (at least not at first). Look at it as a demo+real money pressure and you have to ease yourself gradually into this pressure.
A final point, your consecutive losses outnumber consecutive wins, even though you win more than lose overall. Again, something to think about. Don't loose your nerve or go into anger trading. I've suffered a lot from these, I tell you. A golden rule I-m trying to adopt right now is "2 consecutive losses, take a break." Basically, look at your balance as a trading curve and act accordingly... 2 consecutive candles in the wrong direction and I'm out.
Hope I'm not sounding too patronizing but I was in that boat not that long ago. Again, the very best luck to you and sail on!
"Tips are for waiters." - Reminiscences of a stock operator
