I'm reading "Trading in the zone - Mark Douglas" It's all about trading psychology and actually very good. Reccomended reading.
My friend, that also seems to be difference between forward demo trading and live funded account trading! There are people I know who will do the former (demo) for months consistenly profitable and get wipe out when they start the latter (live). The mindset and the discipline is completely different.
Just my 2 pips.
then may i let my ea to run on a demo and trade live manually by following that ea on demo
what do you think?
phoenix, if you're consistently profitable with that ea on demo and comfortable enough to trade it live manually, why not? but better have your money management in place, have your pips goal and it should not necessarily be the same as your TP on the EA and your corresponding SL tolerance.
Have you used a forex simulator before? I think this can really improve peoples chances of success as they move towards live trading.
Yes, I have and I completely agree with you. But, please understand that there is big difference between simulated success and real live trading. In real live funded trading account, it's real money and it is your money. The psychology is very different. When your negative -30 or more with your own money, I am sure you react a little different that when you are in demo account. The fear and the greed plays with your mindset.
Indeed, that is quite true! One way of coping has been for me to talk to myself, yeah I know it's kind of crazy.. You can get a good handle on your feelings when you keep talking about how you feel, makes you very aware.
In their traditional form I almost see those indicators as a joke anyway.
Maybe MACD but anyway...
Indicators aren't the problem...
It's crap use of crap indicators which seems to be the author's problem.