My journal does a good job of reminding me what I do wrong. Usually, I keep my ego in check, and I don't get upset with loosers anymore, so I'm thinking I'm getting halfway there. Today was weird though, the first day I started adjusting my stops, and not accepting losses, and I didn't do so well. So I'm cutting myself of for the day before I blow up. There's always another day, today just isn't it for me. I'm expecting some time breakeven with live trading. So no biggie. Forrest
I didn't mean to imply you had an ego, only that some traders will continue to keep placing the same losing type trades over and over even though they've seen the pattern that you've picked up on in your own trading. And I mean guys will do them for months/years because they can't just say "Hey ego, we need to stop doing these trades, we keep seeing that they don't work!"
"We have found the eneny and he is us". Trading is simply the battle against oneself. Demo/SIM trading is so very different from live real $ trading. Pulling the trigger is very hard for some. For others it may be very easy but they maybe reckless gamblers. Discipline is and will always be the key. That is why learning to trade live, almost from the jump, is the better way to go. Trade real money but small. Get bigger as you get more profitable and more comfortable. Although, trading a little bit out of your comfort zone can sometimes be a good thing.
IT S ALL ABOUT CONFIDENCE AND NOT CARING ABOUT THE MONEY AND BY THE MONEY.. I MEAN MONEY LOST AND MONEY GAINED
You can trade small with stocks but there are too many stupid rules (PDT, wash sales) and high commissions. You can trade small with Forex but you're likely going to get scammed/traded against/shut down for scalping. And does anyone understand Forex taxes? So that leaves futures!
If you're using OEC please be aware that their demo (simulation) account does not model a real account accurately. I've had automated systems produce better results on the same day using the demo system than on the real system. The demo system does not take into consideration the bid-ask spread adequately, if at all. IB's simulation account in much better.