Psychology of going from Sim to Real money - Psychology and Money Management | futures trading

Psychology of going from Sim to Real money
Started: by motowater Views / Replies:2,593 / 30
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Psychology of going from Sim to Real money

  #31 (permalink)
Trading Apprentice
Futures Experience: Advanced
Platform: Protrader 2.0, Jforex
Broker/Data: Alior Bank, Dukascopy AS
Favorite Futures: FX all major currencies, CL, GC, FGBL
Posts: 33 since Feb 2014
Thanks: 8 given, 23 received

When I started to trade on simulation I've had a set of rules. My SL was 5 ticks. After a losing trade I took a 15 min break to cool off. After 3 losses in a row I took an hour break and then I came back to my PC. When I've made 5 losses that day I just took a day off and didn't trade for the rest of the day. It helped me a lot since I didn't hunt my loss from previous trade to make a profit (usually you just overtrade and lose more than you want). It worked for me and maybe it might to work for some new traders.

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