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Hi all: I’m relatively new only having been trading for about 8 months. I learned a price action method for day trading the e-minis a few weeks ago. The problem is when I’m using paper money, I do great and make great decisions on entries and exits. When I switch to real money, it all goes down the tubes and I generally lose money.

How do you overcome this mental obstacle? I know what I have to do and do it well when it doesn’t count. When it counts I think I’m so fearful of further losses in my account that I don’t make the same sound decisions as I do when its just paper money. I think I have psyched myself out.

Another problem I’m having is if I have a losing trade, I am frequently too anxious to get back in with another trade to get the poor trade “behind me” that I don’t have the discipline to wait for another good set up, even though it may be hours away.

Thanks!

David Skerritt
Clearwater, FL

2012-10-06 07:30:58

Source: http://www.traderslaboratory.com/forums/showthread.php?t=14423&goto=newpost