December 4th, 2008

10 of 10: Demo Trading To Feed A Trading Addiction

Awareness # 9- Demo Trading To Feed A Trading Addiction Traders need to remind themselves of why they started to trade in the first place.  If it is for fun then never open a live account for the market will take all of your money.  I have seen traders literally lose millions of dollars in [...]

December 3rd, 2008

9 of 10: Lack of discipline and Patience

Awareness # 8- Lack of discipline and Patience When demo trading a trader should be developing discipline and the ability to wait for a trade to come to them.  It is easy to say “This doesn’t count; its only a demo account.”  This type of attitude and thinking will cause you to give up on [...]

December 2nd, 2008

8 of 10: “A Go-for-Broke” Attitude

Awareness # 7- “A Go-for-Broke” Attitude Demo trading can be fun and we believe it definitely has its place when you are learning to trade the Forex markets. It’s also appropriate when practicing your entry and exit signals. BUT trading forex in a demo account is NOT a video game where the entire purpose is [...]

November 28th, 2008

6 of 10: Lack of Psychological Preparation

Awareness #5- Lack of Psychological Preparation When a trader is using a live account he pays more attention to the results, the cause and effects, or at least he should.  This gives psychological feedback to the trader.  In demo accounts the ability to learn from emotions during trading is limited. In fact, they are often [...]

November 26th, 2008

4 of 10: NO-RISK Control

Awareness # 3- NO-RISK Control Examples of no risk control are: jumping out of an airplane at 10,000 feet without a parachute, going scuba diving without air in your tanks, or going bungee jumping with out a bungee cord.  Trading with out any risk control will have the same disastrous out come.  To have a [...]