Moving to live trading

bigdolly

2nd Lieutenant
Messages
1,083
Two things don’t chase losses and only put in what you won’t mind losing as sometimes things just don’t go as expected
Yes we can't gamble with money we can afford to use. It is especially important for newbies which lack experience and their chances to lose are higher so basically the risk is higher since risk is probability multiplied by amount of loss.
 

MoBest

Recruit
Messages
80
Two things don’t chase losses and only put in what you won’t mind losing as sometimes things just don’t go as expected
That's a solid advice. I just can switch the places. First is to risk only this which won't mind to lose. If this is fine you won't chase the loses.
 

Dora_WalletInvestor

Private, 1st Class
Messages
71
Still it will not have the emotions that comes in real accounts. It will definitely give idea of what lot size you should be using when going in live account which is still a ver good advantage of practicing in demo.
I agree. Because of trading psychology it's best to use an account with a small amount of money first when transitioning from demo to real trading.
 

Charlieboy885

Private, 1st Class
Messages
38
I think when you have been working on a demo account for sometime, it really helps with your confidence when moving onto a live account. Nothing really prepares you for your first mistake though. It can be easy to just shrug it off on a demo account but when you're trading your own money it can be a very different matter.
 

fxoday

Recruit
Messages
393
Demo account although not involved emotion and cant built good psychology trading, but still useful to learn in practice, make sure in demo account already finding comfortable strategy and style trading to move in live account.
 

RahmanSL

Major
Messages
2,732
Use money you can afford to lose...then sign up with a good & trusted Broker and jump straight in to begin your first day in the forex world.

Then be sure to come back here and post about your experiences and how much money you have made :D

Good luck and stay safe!
 
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