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    t least a few months. There’s not much fear associated with losing a few dollars a week but, when you start missing house and car payments, the fear will be too much for even a veteran trader to bear.

    2. Revenge. Don’t fall into this trap. You lose a few trades in a row and now you want revenge. Your mind is saying; that

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    Your transition from trading a forex demo account to a live account will undoubtedly cause you to rethink a few things. You may find yourself suddenly doubting the fundamentals of your trading system, and asking yourself questions like; do I need to tighten or loosen my stops?, should I rethink my entry and exit strategies?, can I make this work better using different money management rules. The list of thoughts going through your mind could go on and on. Your system may need some adjustments but, your sudden concerns and doubts may be nothing more than the effects of the most talked about phenomenon experienced by new live traders, EMOTIONS.

    When you open the live account the rules change. You are now risking your own money. Your brash and brazen trading style that made so many virtual dollars has suddenly turned into a trading style fraught with fear and indecision. Here we will discuss some common emotions new live traders have and offer tips on how to overcome some of them.

    1. Fear. Why does this emotion kick in? What are new live traders afraid of? Most, I believe, have a strong fear of losing their hard earned money. A good way to overcome this emotion is to trade only with money you can afford to lose. Start with small trades and work your way up. Trade a mini account for at least a few months. There’s not much fear associated with losing a few dollars a week but, when you start missing house and car payments, the fear will be too much for even a veteran trader to bear.

    2. Revenge. Don’t fall into this trap. You lose a few trades in a row and now you want revenge. Your mind is saying; that

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    an I make this work better using different money management rules. The list of thoughts going through your mind could go on and on. Your system may need some adjustments but, your sudden concerns and doubts may be nothing more than the effects of the most talked about phenomenon experienced by new live traders, EMOTIONS.

    When you open the live account the rules change. You are now risking your own money. Your brash and brazen trading style that made so many virtual dollars has suddenly turned into a trading style fraught with fear and indecision. Here we will discuss some common emotions new live traders have and offer tips on how to overcome some of them.

    1. Fear. Why does this emotion kick in? What are new live traders afraid of? Most, I believe, have a strong fear of losing their hard earned money. A good way to overcome this emotion is to trade only with money you can afford to lose. Start with small trades and work your way up. Trade a mini account for at least a few months. There’s not much fear associated with losing a few dollars a week but, when you start missing house and car payments, the fear will be too much for even a veteran trader to bear.

    2. Revenge. Don’t fall into this trap. You lose a few trades in a row and now you want revenge. Your mind is saying; that

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    >When you open the live account the rules change. You are now risking your own money. Your brash and brazen trading style that made so many virtual dollars has suddenly turned into a trading style fraught with fear and indecision. Here we will discuss some common emotions new live traders have and offer tips on how to overcome some of them.

    1. Fear. Why does this emotion kick in? What are new live traders afraid of? Most, I believe, have a strong fear of losing their hard earned money. A good way to overcome this emotion is to trade only with money you can afford to lose. Start with small trades and work your way up. Trade a mini account for at least a few months. There’s not much fear associated with losing a few dollars a week but, when you start missing house and car payments, the fear will be too much for even a veteran trader to bear.

    2. Revenge. Don’t fall into this trap. You lose a few trades in a row and now you want revenge. Your mind is saying; that

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    some of them.

    1. Fear. Why does this emotion kick in? What are new live traders afraid of? Most, I believe, have a strong fear of losing their hard earned money. A good way to overcome this emotion is to trade only with money you can afford to lose. Start with small trades and work your way up. Trade a mini account for at least a few months. There’s not much fear associated with losing a few dollars a week but, when you start missing house and car payments, the fear will be too much for even a veteran trader to bear.

    2. Revenge. Don’t fall into this trap. You lose a few trades in a row and now you want revenge. Your mind is saying; that

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    t least a few months. There’s not much fear associated with losing a few dollars a week but, when you start missing house and car payments, the fear will be too much for even a veteran trader to bear.

    2. Revenge. Don’t fall into this trap. You lose a few trades in a row and now you want revenge. Your mind is saying; that is my money, you took it away from me and now I want revenge. I will make you pay, I will beat you this time and I will get all my money and more back from you. If you begin having these thoughts, step back and think about who you are seeking revenge against. The market. This is a market that is so much bigger and badder then you, has a much larger account and a lot more leverage than you ever will. The market also has no emotion and will continue moving up and down and sideways whether you are in it or not. As the saying goes, “revenge is a dish best served cold”. So, cool down and gather your senses. The market will be there again tomorrow waiting for you to try to kick it’s ass.

    3. Greed. A saying in the market goes something like this, “you can be a bear or you can be a bull but, don’t be a pig”. Hang onto a few trades too long and you will have a better idea what that means. Lurk around forex trading boards and you will also here, “plan your trade and trade your plan”. Trying to stretch a 30 pip gain into a 70 pip gain sometimes leads to a 20 pip loss.

    These are the big three you need to be aware of. Control these emotions and your chances of making it in forex goes way up.

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