DEMO to LIVE transition

[Guest gavguns]

Does anyone feel like sharing any unforeseen experiences they had when they first started trading alive account? I've been trading profitably on the Demo account, and hoping the Live account is EXACTLY the same (barring the obvious "real" money) to use...

Thanks

 

 

[Caseynotes]

2 hours ago, Guest gavguns said:

Does anyone feel like sharing any unforeseen experiences they had when they first started trading alive account? I've been trading profitably on the Demo account, and hoping the Live account is EXACTLY the same (barring the obvious "real" money) to use...

Thanks

 

 

It won't be exactly the same no, because you will be different. Start live using the smallest bet size available with the view of sizing up as confidence grows.

[nit2wynit]

4 hours ago, Guest gavguns said:

Does anyone feel like sharing any unforeseen experiences they had when they first started trading alive account? I've been trading profitably on the Demo account, and hoping the Live account is EXACTLY the same (barring the obvious "real" money) to use...

Thanks

 

 

There's a thread going titles, Is Spread Betting for Fools.  Check it out.  You'll see all my Fails since going Live.  It's a different Beast All together :(

Down another £200 on Gold today.

[Caseynotes]

26 minutes ago, nit2wynit said:

There's a thread going titles, Is Spread Betting for Fools.  Check it out.  You'll see all my Fails since going Live.  It's a different Beast All together

Down another £200 on Gold today.

Thought you were going to spend some time re-educating yourself 😮

[nit2wynit]

22 minutes ago, Caseynotes said:

Thought you were going to spend some time re-educating yourself

I thought I did.  decided on Volatility and Go with the Trend.  Gold been on a Downtrend.  Caught about £100 worth going short.  Tried to carry it on, but it just kept going the other way, despite it still going down.  Then missed the spike at 3pm ish, even though I was waiting for it.  Decided not to Jump on it.  Missed out of £175 on the up.  Then thought I'd get it on the way down again.  Kept my Stops too tight thinking it was going to drop.  Turned out to be more of a consolidation, till i finally got about £35 back at the end.

I'll crack this.  Just getting used to losing for Real.  Once the sweat  is dried from my eyes, I'll be back on it with Zero Fear.

Overall down £200 today making £100 of it back.  Down £100 yesterday with £50 back last night.

 

[Caseynotes]

23 minutes ago, nit2wynit said:

I thought I did.  decided on Volatility and Go with the Trend.  Gold been on a Downtrend.  Caught about £100 worth going short.  Tried to carry it on, but it just kept going the other way, despite it still going down.  Then missed the spike at 3pm ish, even though I was waiting for it.  Decided not to Jump on it.  Missed out of £175 on the up.  Then thought I'd get it on the way down again.  Kept my Stops too tight thinking it was going to drop.  Turned out to be more of a consolidation, till i finally got about £35 back at the end.

I'll crack this.  Just getting used to losing for Real.  Once the sweat  is dried from my eyes, I'll be back on it with Zero Fear.

Overall down £200 today making £100 of it back.  Down £100 yesterday with £50 back last night.

 

Can't really see what you are doing but the losses are too high compared to the profits which means you need better control of the risk/reward. Also need clear lower low and then a turnover of a pullback to make a clear lower high, some of those in your pic don't look too clear.

So from the pic in the fools thread if playing the pullback entry the stop goes just behind the candle reversal pattern, if playing the breakout entry put the stop just behind the breakout level. So price either just takes off in your favour or you're out for a very small loss.

 

 

[nit2wynit]

Those losses are accumulated @Caseynotes not in one go.  The wins are in one go.  First loss was £40 and £45.  The 1st £40 was my mistake as i didn't adjust my Stop.  2nd was actually Fail I let it go too far.  The £110 loss was actually 3 losses in succession.

 

How are you doing @gavguns?