Forex control demo account

The Authority’ on Price Action Trading. In 2016, Nial won the Million Forex control demo account Trader Competition. Maybe you broke out in a full-body sweat?

These things are common when traders switch to real money trading from demo trading, because there is now real money on the line. But, what we SHOULD do is not always what we actually DO. I am included in the camp of traders who did spectacular when they first started on demo and then suffered some big losses shortly after switching to real money trading. The reality is that most traders are not fully aware of the threat of losing money on ANY trade they take before they start trading live. As a result, once they enter their first live trade, they have probably risked too much money and once they see the market move against them, they instantly get butterflies in their stomach and do something stupid. TIME, and our time is THEE most precious thing we have on this earth. You see, while the market has the ability to take your money from you on ANY given trade, YOU have the ability to decide how much you are willing to let it take.

So, you have to use this ability to your advantage. I firmly believe that the amount of money you risk on a trade dictates whether or not you become emotional, and emotional attachment to a trade is the fastest way to lose your money. So, knowing this FACT, we have to indirectly control our emotions by first controlling our risk per trade. You see, controlling yourself in the market is a game that is conquered by preemption and by thinking BEFORE you act, not after the fact. If you have any fun money then it is feasible to risk it in the markets, if you honestly don’t have any fun money then you should continue demo trading and learning and consider real money trading only when your financial situation improves.

Should all traders demo trade with my price action trading strategies before attempting to trade them live? So, what is the most valuable thing we can learn from demo trading? Well, clearly it is that not having any emotional attachment to your trades is the easiest way to make money in the markets. So, since a demo account inherently removes the potential for emotion, you have to decide how to remove the emotion when you start trading live, and you need to do this BEFORE you enter any real money trades.

The first thing you need to do when trading a real account is to fully accept that you are going to lose sometimes. As I discussed before, never trade money you really need for anything else in your life. So, to emulate the feeling of trading a demo account, you will need to reduce or eliminate the significance you place on any one trade by only risking an amount of money you are totally OK with losing. Also, remember that your trading success is the result of a large series of trades. 50 in a row out of 100, but if you’re maintaining a risk reward of 1:2 or more on all your trades, you are still going to make a lot of money, even in the face of having 50 losing trades. The only real tool that you have in defending against the emotion of having your real money on the line is controlling yourself BEFORE you enter a trade.

Do not jump into the market like a machine gunner, instead, learn to trade Forex like a sniper. Thank you for sharing your mental edge with us. 13 000 just on trading I guess your course is small change. The teaching is as clear as daylight. Happier will be whoever practices it.

Trade with your demo account as if it were live. Trade with your real account as if it were demo. Yes Nial very true, you should not trade with real money until you really know how to read the market i myself have made that mistake, but i have learned from it. All I can say is be shore you know what you are doing before you do it.