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Dealing with the anxiety to move to a live account

Flinty13Flinty13 Posts: 22
I've been into trading for around 3 years now and I'm at a point where I can consistently get around 80% win rate on trades. However as I suffer from anxiety, I just feel a bit anxious about trading on my live account, it's really starting to annoy me as I'd like to trade full time.

Anyone got any tips? If I can have a full weeks trading on live account and be in profit it will be such a huge confidence boost but I just can't find the confidence to start

Comments

  • OkaneOkane Posts: 1,282 admin
    Yeah, start trading live.
    "If I can have a full weeks trading on live account and be in profit it will be such a huge confidence boost"
    And what happens if you have a losing day, week or month? That's part of trading. If you have traded for 3 years you should know that.
    Anyway, the only solution is to get out there and do it, trade love, win and lose and learn to control yourself.
  • Flinty13Flinty13 Posts: 22
    Yeah everyone has those odd days where they'll make a loss but it's no big deal
  • damien07damien07 Posts: 2
    Many traders often wipe out their account because of two reasons:
    Greedy and Fear!

    A market is a medium that allows buyers and sellers of a specific good or service to interact in order to facilitate an exchange. Buyers always want to buy at a lower price while sellers always want to sell at a higher price. The total value of the market is constant during a certain time period, so it’s a zero-sum game. If you do not win other people’s money, then other people will take away your money.

    Humans are irrational at most of the time. So do not blindly believe anyone or do as “crowd behavior”. 99% people lose money a lot. To avoid the crowd behavior, DO NOT Chase Price.

    You need to understand anything you do before you start, i will encourage you to take tactical instructions before you start trading live, so as not to gamble your hard earn money.
  • Blue Sky BinaryBlue Sky Binary Posts: 157 ✭✭
    Flinty13 said:

    I've been into trading for around 3 years now and I'm at a point where I can consistently get around 80% win rate on trades. However as I suffer from anxiety, I just feel a bit anxious about trading on my live account, it's really starting to annoy me as I'd like to trade full time.

    Anyone got any tips? If I can have a full weeks trading on live account and be in profit it will be such a huge confidence boost but I just can't find the confidence to start

    Hi Flinty,

    Actually our advice is a bit different to Okane's on this.

    If you are suffering from actual anxiety (medically speaking, a condition we have researched in depth for our emotion control algorithms inside Artemis), then we would actually advise you to stop trading. Even if we asked you to trade small and grow your account large, when it does become large, you will suffer significant health consequences from losses, which are inevitable, as Okane points out. Those health consequences (elevated heart rate, hormonal swings, possible neurological symptoms, sleep issues) are simply not worth it.

    We are launching a new technology, Artemis, that will help dramatically control this, but anxiety is something that is often medical and medication and CBT (cognitive behavioural therapy) is the only treatment. Once that is properly controlled, then you can trade without these limitations.

    We hope that works,
    Team BSB
    Blue Sky Binary - Research, Education & Technology. Signal Hive - The No.1 Binary Signals Marketplace.

  • Flinty13Flinty13 Posts: 22

    Flinty13 said:

    I've been into trading for around 3 years now and I'm at a point where I can consistently get around 80% win rate on trades. However as I suffer from anxiety, I just feel a bit anxious about trading on my live account, it's really starting to annoy me as I'd like to trade full time.

    Anyone got any tips? If I can have a full weeks trading on live account and be in profit it will be such a huge confidence boost but I just can't find the confidence to start

    Hi Flinty,

    Actually our advice is a bit different to Okane's on this.

    If you are suffering from actual anxiety (medically speaking, a condition we have researched in depth for our emotion control algorithms inside Artemis), then we would actually advise you to stop trading. Even if we asked you to trade small and grow your account large, when it does become large, you will suffer significant health consequences from losses, which are inevitable, as Okane points out. Those health consequences (elevated heart rate, hormonal swings, possible neurological symptoms, sleep issues) are simply not worth it.

    We are launching a new technology, Artemis, that will help dramatically control this, but anxiety is something that is often medical and medication and CBT (cognitive behavioural therapy) is the only treatment. Once that is properly controlled, then you can trade without these limitations.

    We hope that works,
    Team BSB
    Thanks :-) I am actually looking to get CBT in the next few weeks

    I'm not sure how to explain it but I know I wouldn't anxiety all the time while trading, it's just starting to trade live is the biggest hurdle. I feel like after a week or two trading regularly I would be alright. Certainly seems that way with any other activity I've done before which has made me anxious.
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