I started to trade cash. But ... I started to be under stress... and i did mistakes... and i lost money
I know exactly the mistakes i did, i talked with @rleplae about decisions i took, he told me that it's a common feeling and a common experience for somebody who changing from sim to cash. I'm afraid to lost money, my money BUT i'm more afraid again to lost my boss (husband ) money
I want to recuperate the money, and i lost again .... pffffffff
I want to be perfect but ...
I want to succeed immediately but ...
Ok the situation is not dramatic, i don't have to sale the house and cats
I will start tomorrow ... QUIET
Thanks for your empathy
Fran Ruth Nols-Leplae
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I know that feeling, a bit more stress in the beginning, entering a trade and see its going the wrong way, quickly selling to avoid bigger loss and to see that, after the sell i made, price is going the way you wanted for a nice profit but i sold so i was left with a loss ....
Dont worry to mutch about it. uselly i leave my computer for a little distraction to come back and patient waiting for the next oppertunity following your rules you made before.
Your next trade will be better. I am shure.
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Nice to read your comment,
we should organize a (BE trader's) dinner before end of the year... (this is a must !)
I agree with your comment and i tried to explain to my wife Ruth
stick to your rules
try to be persistent, don't change anything..
2,3,4 losses mean nothing
if you are convinced your rules are good
Ruth knows a couple of her mistakes (triggered by psychology and execution...
being different between SIM and CASH)
no suprise, futures.io (formerly BMT) is full of that,
but I told her to install military discipline
continue, and a little bit of a tweak/improvement will propel her into profit
As she said, we don't need to sell (yet) the cats and the house ;-))
but if she tweaks her method and improves her execution skills
we will have a bigger house and even more cats ;-)))
Call me one of these days to fix a dinner...
It would be a pleasure
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There have been a couple of comments on this; I'll add some more (all to the same point....)
As **EVERYONE** who has traded live (cash) discovers, there is a world of difference between trading live and trading sim. You have something real at stake, and a loss is an actual loss of real money, not imaginary points in a game. Also, a profit is a real profit, and it can excite the judgment as much as a loss can cause panic.
You can get over this. It's a matter of continuing with the methods that have worked for you in sim, and recognizing but not giving in to the urgent new emotions that live trading can bring.
I would suggest a few simple, purely mechanical rules to help you keep your mind on track and balanced during the transition time. Only suggestions; you decide what is right for you.
- Have a daily loss limit: a certain amount that you will allow yourself to lose in a day. If you reach that, simply stop trading for the day. Perhaps something is different in the market that day, and your normal method does not work so well. Perhaps something is different for you that day, and you are reacting to the market in a way that is not productive. So, just stop. Tomorrow things will be different.
- If you have a certain number of losses in a row (many people use 3), take a break. Stop trading, get up from the computer, take a walk or something. Wait for a pre-determined time before you go back (some people will wait a half-hour, some will wait until next day.) If the break didn't clear your mind and you still have a loss, stop. Again, the day isn't working out for you.
- Never, ever, try to "make it back" if you have lost money. You cannot rationally expect "making it back" to work. The market does not know that you lost money. Nor does it care. It will just keep on doing whatever it does. If you don't approach it without concern for your previous loss, you will be acting out of desperation instead of making good trading decisions. This is how people see their entire accounts get wiped out.
- Do not let anything override your loss-control rules, whatever you have decided they will be. The urge to keep going and make it back will become strong at exactly the point when you should stop. Decide, in advance, on rules that you can believe in, and make sure to follow them without any change when you actually need them.
And, of course, do not worry about not being perfect. You will never be perfect at anything. Aim for being good enough, that's all, and being good enough over the long run.
Keep going with this. Learn how to limit your losses and the effect of your inevitable mistakes. You can do well at this. It just takes time, and using what you know is workable.
And good luck. Don't sell the house or any cats.
Last edited by bobwest; November 21st, 2014 at 07:52 AM.
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