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Transitioning from simulated to live trading

Mental preparation is equally important
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Re: Transitioning from simulated to live trading

Postby MonkeyTrader » Mon Apr 30, 2012 10:48 pm

switchtrader wrote:
Set yourself a small goal of taking the next 10-20 trades no matter excuses,no fluffing about......just take them!!!
Before you place the trade,define your risk and ACCEPT IT COMPLETELY.
Always tell yourself that if i don't take this trade,which is based on my edge then i WILL destroy whatever edge i have.

If you notice the last part i mentioned,you will see how important your mental head space is in becoming a professional,its more important than an edge or a system.
Because you my have an edge but completely destroy it by thinking incorrectly.


Echo that. The whole post was right on, not just the quoted part. Great job Switchtrader.
I really don´t mind being on the other side of your trade.

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Re: Transitioning from simulated to live trading

Postby switchtrader » Tue May 01, 2012 3:01 am

Thx Winston and Monkey.

Great to see BonTrade having a separate forum for the mental side of trading.
You always know a good trading forum when you see a designated section for trading psychology.
Unfortunately waaaaaay underrated in this industry.
Personally i would list it as MUST READ in any forum as a first stop.


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