some advice from old AW10's posts
1) Have your rules for entry, profit, stop exit, money managment, risk management in place. (and have confidence in them. Your paper trading should have proved it to you) 2) Develop right beliefs about the market. Some of sample belief / thoughts are
a) As a trader, my job is to find, plan and execute trade as per my rules. If there is no trade then I am not going to force a trade.
b) As a trader, I am here to trade.. not to gamble. Putting a trade against my tested rules is gambling.
c) Once in trade, I am ready to accept whatever market gives to me.Whether this trade will be profitable or not,is not in my control.
d) If this trade goes against me, my stops will get me out and save my account.
3) If you loose the confidence, then go back to paper trade or trade with small size to gain the confidence.
4) Know you strategy well in terms of number of consecutive loosing trades, biggest loss, how strategy behaves in various market conditions etc. You backtesting results will help you here.
5) Know the time when you have to stay away from the market. Market does test your patience and keeps us waiting for long time without giving potential opportunity meeting our rules. But thats the market.
