facebookPast 2 to 3 months have been educating, back testing and forward testing with demo acc on a daily basis for forex. Feel like I'm kind of ready to start live. Wondering if anyone with experience in fx has any advice before i start. Thanks ! ? - Seedly
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Anonymous

30 Jul 2019

Past 2 to 3 months have been educating, back testing and forward testing with demo acc on a daily basis for forex. Feel like I'm kind of ready to start live. Wondering if anyone with experience in fx has any advice before i start. Thanks ! ?

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    Yeap Ming Feng

    Yeap Ming Feng

    20 Apr 2018

    Level 8·Head of Marketing at Seedly

    Hey. Was trading professionally for a while. Here are some advice.

    Being profitable on a demo account has little correlation with trading live. Simply because your trading emotions and decision making process changes drastically when you switch over to real cash. This is human nature, and also the reason why only a small amount of traders are profitable.

    Next, trading live hurts you more than you know it. Trading with leverage on a live account can give you the "shiok feeling" when you make money. But take note. If it goes the opposite way, because of the leverage, it is going to hurt you a lot.

    If there are some best practise, it will be, to always remember your stop loss and take profit. Make sure you are very aware of how much you can afford to lose. Do not over expose that amount.

    Jia you ya!

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      Guess you could open an account and start with let say 1000 with a leverage of 50:1 ratio, which is the highest available ratio for brokers in Singapore.

      Test with your strategy at say 0.01 lot or 1000 units. Then see how it turns out in live trading.

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        Gabriel Tham

        Gabriel Tham

        02 May 2018

        Level 14·Tag Team Member at Kenichi Tag Team

        Demo account is always good to learn but the emotional and psychological aspect of a demo vs Live ac...

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