A consistent live account trader of one
month is better than the consistent of five years of demo trading.
The fact is that you cannot grow or be successful if your money is not
involved in forex trading. As a demo account trader you can try all
experiments but with live or real account it is a different
psychological frame of mind. You learn faster from your mistakes and get
refined, matured and disciplined in the market.
As a beginner trading live account, you
will see money on the table (i.e. sure trading position that will yield
profit) yet fear of loss grips you and you just sit down there and watch
the market move in the trend you have envisaged or analyzed. But if it
were demo account you will go for it. On demo account you take risks
which ordinarily you would not dare on a live account, you end making
money there. But it turns out to be another story when it’s a live
account.
Even though demo account is a near
perfect simulation of live trading, the trader’s emotions and fears are
completely wide apart. It is traditional or conventional for most
trainers to ask you to begin demo trading after your training, but with
my training, I am changing that course. My experience, boldness and
success stem from the fact that I got burnt in the market, but I decided
to face the question of why I encountered losses and since I found that
answer I have nearly been on over 95 per cent success story.
Most people who have lost money in forex
trading and hence loathe forex are those who (by my guess) spent much
time demo trading without a good psychological preparation for the real
or live trading. Also, those who lose money initially to inadequate
education (on technicals and fundamentals) of the market think forex
trading is a herculean task. The initial losses discourage them and they
never go far beyond overcoming that trauma to look for the right answer
rather the blames are heaped on the market. Forensic analysis on their
account history will definitely show their wrongdoings.
In summary, good education and fearless
early live market entry is a sure way to finding the door to successful
career and profitable trading. No pain, no gain!
