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