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Monday, 13 June 2011

Learn to Crawl, Then to Walk, Before Running to Wealth


In order to be a professional, one must go through vigorous training and learning. It is difficult to become a consistently profitable trader and most new traders will quit before attaining that status. Becoming profitable is achievable, but it takes time and practice.

Get a feel for trading by first practicing in a demo account or do paper trading. Start out small, trading one trade at a time. After months of trading and creating a plan to take on the market profitably, do live trading.

Start out small with your live account. The difference between trading with and without real money is like a wide chasm separating the two. People often think it’s the same and start squirming after the market goes against them. A 20 pip move against you and fear starts to overwhelm you in live trading. With time, you will find that trading with real money becomes easier, but you should learn to walk before you start trying to run with the professionals.

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