This morning I did a YouTube live showing you how to utilize the new Nadex Touch Brackets. My original plan was to teach you how to enter a short, a long or both plus how to exit either at market or with a target.
Of course, someone made a comment because it was a demo account so I went into my live account simply to show that the Nadex Touch Brackets work the same — in demo and live. I entered the GBPUSD short (primarily because more likely than not it was going down today and I wrote about that early this morning on the Nadex Market News site).
YouTube Live with Touch Brackets
The YouTube Live video is posted below and at some points is very blurry, which is why I ended it because the numbers were not clear.
Remember, I entered touch brackets in both the Nadex demo and live account. After watching the charts to make sure the moving averages held, I left to go run errands (pick up groceries, check on my aunt, have lunch, etc). When I returned, I did the follow-up video, showing both demo and live accounts again.
Why take the time to do both trades? Because it shows the Nadex Touch Brackets work in both demo and live. However, some traders fail to recognize the mental changes that go with trading a live account and, therefore, believe that something works on in a “demo” mode. What actually happens is — once they begin trading with a live account, they change.
They get nervous over a potential loss. They make money but want more and don’t take the profits offered. They get nervous and interpret the technical analysis incorrectly. There are numerous psychological issues that occur when a trader goes live and failure to recognize and take the responsibility for these issues will result in a continuous pattern of losses.