Member Since Jul 21, 2011 4 posts
Aug 12 2011 at 10:51
Thanks alot for the inspiration Sarah...:-)
Thanks for the thoughts James and Ja..... I will go live with a small account soon..and try out to settle the 'nerves' and emotions of live trading...
Keep it simple and don't get into analysis paralysis
Member Since Oct 02, 2010 8 posts
Aug 27 2011 at 01:52
(edited Aug 27 2011 at 01:54 )
You go live when you are consistent in your demo account. Other people even recommend getting to live account ASAP, as the psychology in trading live money is different than demo money. They suggest opening micro account and to start trading in small size after getting basics of FX market. As for me I have decided to go live when I will feel that my gains are good enough to keep me further out of red, at the moment I'm kinda improving and going towards my target. When I will be in green for a month without major breaks in my equity curve I will move to live trading.
As I have mentioned before it is my personal opinion as I have noticed listening to other people on trading forums can do great harm. The best offer which I can give is to listen whether you feel confident in your actions, if you are confident and follow your plan then just pull the trigger to go live.
Absolutely, there will be other people's opinion and I am not trying to say we should trust our instincts because forex trading isn't about that, but you'll know when you are ready to take the deep plunge. When you feel confident eough, do it. No amount of demo trading that can ever prepare you for the real thing. Emotions can easily take over when it is your hard earned cash on the line.