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Transitioning from simulated to live trading

Mental preparation is equally important
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MonkeyTrader
I´m Rather Good Now !
Posts: 177
Joined: Fri Nov 20, 2009 12:10 pm

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 what...no 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.

rgds,
switchtrader

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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switchtrader
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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.

rgds,
swicthtrader


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