When Do I Start Live Forex Trading? - BlueMax When Do I Start Live Forex Trading? - BlueMax

When Do I Start Live Forex Trading?

When do I Start from Demo Trading to Live Trading?

This is general question from the Forex trading beginners. Once you feel comfortable with Forex currency exchange market activities and how they perform, you are eligible to move from demo trading to live trading. The following are differences between the virtual and real trading.

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While trading, the trader must ensure their own trading plan for successful trading which aims for potential returns. Demo trading is the virtual one where the price feed and numerical data are true but does not cause any profit or loss. But in live trading all market movements affect your money physically. So you should be attentive with each and every moment of trade. For beginners of Forex Trading, free demo account is a great opportunity to learn Forex. Take complete time to learn how this market performs and its characteristics. After this you can move to live account for making your fortune.

How to control your emotions?

In Forex market, there is a chance of greed and fear while trading. The thought of making profit at very short period makes greedy that is the reason for over trade. Sometime traders may have fear feeling because of loss. No doubt, the emotions like greedy and fear make unsuccessful trading which delivers the loss of potential returns. Surely, those emotions need to be minimized.

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If you control your emotions, you can aim for successful trading. Actually no one can determine the exact movement of FX Market, but can predict things to certain extent. By following the right combination of Strategy, Money Management and Emotion Management you can trade
successfully.

The following aspects are needed for the professional trading; Trading Plan, Risk Management, Money Management, Emotions free trading mind, Take Profit and Stop Loss limits. Finally you are the decision maker for your trading portfolio, and you are the one responsible for the returns of profit or loss. So strongly define your trading strategy without greedy and fear emotions.