How to switch from demo to real account
WhatsApp A demo account is a great way to ease into the forex market. You can spend as much time as you want going through market moves, setting your own trading style and practicing.
Cory Mitchell Updated April 09, It should be simple. You did well on the demo account —great in fact—but as soon as you opened a live account you started to lose money. Some experience the capital draw-downs right away, for others it takes a while, but almost every day trader has a transition period between demo trading and live trading where they seem to lose their way. If you're experiencing this, here are some potential reasons why, and how to get back to your winning ways. It's Normal Give yourself a break.
You can keep your trading journals just as you would if you were trading in real time so you can learn from them and gain experience in the complete trading process. But at some point, enough is enough. It will be time to hit the market with live trades using your own money.
How to go about the transition from the demo account to a live account can be exciting if you know what to expect. Hopefully, you have a broker that you can trust to help you with the switch.
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But for many new traders, the results are not pleasing. That is actually more of the norm.
Happy Friday! Gets it out of my system and I can watch it and hopefully learn from it. However, my demo account is growing, and my live account is dropping… FAST!
So the advice would be to keep those first trades small. Live trading is a whole different game than using a demo account, because it is your own real money that you are risking.
The pressure of trying to choose only winning trades is great, as is the fear of losing. Well, you may have done well in the market just because there were certain conditions that you understood.
Then, as you make the change to a live account, the market changes.
This is more than just a little bit frustrating, but take into account that it can happen. Study the new market atmosphere and trade accordingly.
Switching from demo account to real account
Look at trends and how you reacted to them. When you have enough trades that you can make accurate conclusions, only then should you make changes to your trading strategy.
In short, trading with a live account has a different mentality than with a demo account, so take it slow and easy!