Question:
I really have passion for trading forex but I have a problem. I usually do well when trading “on paper,” but when I trade on my real account, the result is not always the same. I always find myself doing the opposite when trading my real account. As well, I trade 15 min and 30 min and rarely have time for other things. I always have my eyes glued to my computer. I love trading and, at the same time, I want a little bit of freedom. What can I do?
Ed from Realityville
Answer:
Ed, actually you have two problems. Your first problem, getting different results when trading on paper versus reality, is common and easy to solve. When trading on paper, you lack the emotional / mental connection to the trade because you have no money involved. When you get to real trading, you behave differently. Train yourself to act the same way as when you trade on paper, without emotion. If you think about your issue this way, you just might find your solution.
Your second problem is you. If you are letting your passion compromise your freedom, something is wrong. Passion, like greed, can overwhelm you and actually reduce the point of passion, which is to enjoy what you do. If you want more freedom, you are not truly enjoying what you do, and you are not doing what you do because you love it; you are doing what you do because you are compelled to do it. Please think about this because it connects to your first problem.
You might very well enjoy trading on paper because it is fun, and you can do as much as you want whenever you want. On paper, it is a game, a fun game for sure, but it is not real. I have seen young people behave this way with computer games. Compelled to play all the time, “glued to my computer” each might say.
Take a break, lay out a plan, put a little money in your account, and jump into reality slowly and carefully with your eyes wide open.
Trade in the day; invest in your life …
