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Fighting Addiction and Stops


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  #11 (permalink)
 kevinkdog   is a Vendor
 
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SOAP7 View Post
Don't blame yourself, we're all humans.

1: Open a Sim account and trade there for 1 month (or as long as it takes) and under real cirumstances, you will learn how it doesn't make sense to move your stop away and you will build more healthy habits over time.

2: Stop trading at Prop firms immediately, it only worsens your bad habits. Come back when you are profitable in Sim for ate least on month, clean disciplined trading.

3: Learn a new strategy where your stop and target is "to the tick" defined and undebatable.
Eg: Volumetrading with stops "somewhere" near some level is unsuitable for you.

4: Understand that trading is quite boring when you are just following your rules. Thats how it is.


OP, if you can afford it, once you think you have a decent strategy (no small or easy feat), see my advice below.

@SOAP7 gives very good advice, although for point 1 I recommend trading 1 MES contract with real money. Sim trading can give you a false sense of your abilities.

I know a TON of sim trading millionaires, but very few real money millionaires.

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  #12 (permalink)
SOAP7
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kevinkdog View Post
OP, if you can afford it, once you think you have a decent strategy (no small or easy feat), see my advice below.

@SOAP7 gives very good advice, although for point 1 I recommend trading 1 MES contract with real money. Sim trading can give you a false sense of your abilities.

I know a TON of sim trading millionaires, but very few real money millionaires.

True, SIM or real money with 1 micro depends on the current challenge he has. I wrote SIM in his case, because in SIM there are no emotions so he wont pull away his stop until it becomes a good habit. If he would go with his bad habits from Prop trading into live account, he might crash before even learning any new habits.

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