As the title suggests I went live today after practicing a ton and I could immediately tell the difference between the two. For starters, my first trade I found it hard to even place anything because of the realization that I was live deterred me from making any decision and any opportunity that appeared before me seemed to slip away. Using your own money feels much scarier.
Furthermore, things felt off to me, the price movements were not at all what I expected and it felt the moment I decided to back or lay, the price just moved against me although I didn't immediately see why this was. It sort of felt like a curse I had where a single click was all that was needed to be at a loss immediately.
I had no idea and felt a little frustrated, did I just pick a bad day or was I just missing something that everyone else could see? After the spike in my mood I took time out walks to clear my head as emotion would lead me to worse decision making, but I couldn't help feeling annoyed at some points.
What does everyone think? Was it simply a bad day to start up or do you think I read things wrong? I came out a small profit today (no idea how), but I'm sticking with small stakes for the foreseeable future until I feel ready.
Started today.. and it didn't go so well
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SeaHorseRacing
- Posts: 2896
- Joined: Fri May 20, 2016 7:06 pm
Racing was OK today. My only advice right now for you is to keep learning and work on your physiology and internal faults which everyone has its only natural.
Its great that you have been so observant and keep analysing. It takes a good year just to get the hang of things so if your serious whilst you get to grips work on yourself..rather then spending a year learning about the markets and neglecting self awareness.
Master yourself then the markets... they both take time and just being in the markets you will learn from them.
Its great that you have been so observant and keep analysing. It takes a good year just to get the hang of things so if your serious whilst you get to grips work on yourself..rather then spending a year learning about the markets and neglecting self awareness.
Master yourself then the markets... they both take time and just being in the markets you will learn from them.
That's good advice, I'm more than happy than to spend some time outside and go for a walk to keep a calm attitude when I feel overwhelmed. I'm always looking for a reliable way to read a market as I do get in there early and do nothing but see what is happening, but things do seem to go against me. They seem mercurial when I'm sure they're going to stay steady.
I'm aware that I have much more to learn and I am genuinely looking forward to that, and I strive to look at things objectively and not get hot-headed in any way, but we're human and it happens from time to time.
I'm aware that I have much more to learn and I am genuinely looking forward to that, and I strive to look at things objectively and not get hot-headed in any way, but we're human and it happens from time to time.
Your P+L shows a profit of 76p - that's a good day for the first time
In fact, your day was excellent, because you had a number of losers, but you didn't lose your head and start chasing those losses, ultimately blowing the bank
Don't beat youself up, you're heading in the right direction
In fact, your day was excellent, because you had a number of losers, but you didn't lose your head and start chasing those losses, ultimately blowing the bank
Don't beat youself up, you're heading in the right direction
Good advice from the other guys. Don't be in a hurry to increase your stakes, people learn at different rates and everyone takes a while to get it.
Trading with real money, even small amounts is completely different to using the practise mode. I think practise mode is good to learn how to operate the software and getting used to watching the ladders and graphs etc, but being profitable on practise mode does not mean you will be profitable when using real money.
Keep doing what you are doing and in a few months you will be noticing things that you aren't at the moment, and you will be thinking to yourself how on earth didn't I notice these things when I first started. The thing is it takes time for your brain to absorb and process the information you are being presented with every day while trading.
We all like to think when we first start that we might be one of the few individuals who get it right from the off, unfortunately its not like that for the vast majority of new traders. It takes a lot of time, a lot of effort and that's why most people give up. I hope you keep at it and get to the level you hope to reach, good luck.
Trading with real money, even small amounts is completely different to using the practise mode. I think practise mode is good to learn how to operate the software and getting used to watching the ladders and graphs etc, but being profitable on practise mode does not mean you will be profitable when using real money.
Keep doing what you are doing and in a few months you will be noticing things that you aren't at the moment, and you will be thinking to yourself how on earth didn't I notice these things when I first started. The thing is it takes time for your brain to absorb and process the information you are being presented with every day while trading.
We all like to think when we first start that we might be one of the few individuals who get it right from the off, unfortunately its not like that for the vast majority of new traders. It takes a lot of time, a lot of effort and that's why most people give up. I hope you keep at it and get to the level you hope to reach, good luck.
Interesting post and a lesson for all those who plan to venture out into the big bad world that is gambling, er, sorry, trading.Asterit wrote: ↑Tue Apr 25, 2017 10:10 pmAs the title suggests I went live today after practicing a ton and I could immediately tell the difference between the two. For starters, my first trade I found it hard to even place anything because of the realization that I was live deterred me from making any decision and any opportunity that appeared before me seemed to slip away. Using your own money feels much scarier.
Furthermore, things felt off to me, the price movements were not at all what I expected and it felt the moment I decided to back or lay, the price just moved against me although I didn't immediately see why this was. It sort of felt like a curse I had where a single click was all that was needed to be at a loss immediately.
I had no idea and felt a little frustrated, did I just pick a bad day or was I just missing something that everyone else could see? After the spike in my mood I took time out walks to clear my head as emotion would lead me to worse decision making, but I couldn't help feeling annoyed at some points.
What does everyone think? Was it simply a bad day to start up or do you think I read things wrong? I came out a small profit today (no idea how), but I'm sticking with small stakes for the foreseeable future until I feel ready.
I don't know whether you planned to take time out if the markets decided to give you a good thrashing - but it was good that you did. Very wise. Even more wise had you planned to.
If the markets 'felt off', why continue? Why not watch? OK, things are different when you are in the thick of it rather than sitting on the sofa reading about someone else's trials and tribulations, but that's what a plan is for. We can all go to pieces in the middle of a sh1t storm. It's only natural. That's why we have a plan. When the storm hits, we don't think. Thinking isn't safe because the adrenalin is telling us to fight or flee, neither of which may be appropriate in certain cases. Because thinking isn't safe under such conditions, we turn to the plan and act on it because it was devised in a calm environment when the magic of logic can be applied. The plan should also contain a 'catch all' : 'When in doubt, do nowt."
That said, the kid dun good today.
You leaned a lot today and it cost you little. In fact, you made a profit, albeit a small one. I suspect that today will not be forgotten in a hurry.
You talked about trades which ran away from you. Fine. Let 'em. Concentrate on the ones that don't and make the most of them. I'm not a trader and know naff all about it. Sometimes I wish I did but we can't all be smart. No, I'm a layer. However, I have to place a bet, just in the same way that you have to place the first half of the trade. When I place a bet, I have to get value. In the same way, don't you have to get a similar kind of 'value' too? For example, if the odds are about to run, in't it best to get in at the start, rather than at the end? Isn't that looking for 'value'? It's no good getting into a trend that is about to reverse. Isn't that looking for 'value'. Often, if the odds run away from me, I sit and wait patiently to see if the come back. If not, who cares. Laying at the right odds is the name of the game. Laying at the wrong odds is the road to the poor house. Surely there are parallels in trading? My instinct is to say that if the odds run away, sit back and watch them and learn.
Today, you didn't chase your losses - excellent. Don't ever do that. People I know have - and regretted it big time.
Today, you made a profit - even when you felt that the markets were off. Excellent. Think what you can do when the markets are on.
Today, you figured that you didn't do great. Yet, you made a profit. Excellent. Think what you can do when you do great.
Anna
Asterit wrote: ↑Tue Apr 25, 2017 10:10 pmAs the title suggests I went live today after practicing a ton and I could immediately tell the difference between the two. For starters, my first trade I found it hard to even place anything because of the realization that I was live deterred me from making any decision and any opportunity that appeared before me seemed to slip away. Using your own money feels much scarier.
Furthermore, things felt off to me, the price movements were not at all what I expected and it felt the moment I decided to back or lay, the price just moved against me although I didn't immediately see why this was. It sort of felt like a curse I had where a single click was all that was needed to be at a loss immediately.
I had no idea and felt a little frustrated, did I just pick a bad day or was I just missing something that everyone else could see? After the spike in my mood I took time out walks to clear my head as emotion would lead me to worse decision making, but I couldn't help feeling annoyed at some points.
What does everyone think? Was it simply a bad day to start up or do you think I read things wrong? I came out a small profit today (no idea how), but I'm sticking with small stakes for the foreseeable future until I feel ready.
Hi Buddy,
Now it's been more than 4 year since you have been trading. How is it going on after 4 years ?