I not long ago started learning how to trade and I’ve read a few books, also been through several lessons on the baby pips school area. I’ve been using plus 500 as my demo trading platform.
Does anyone have any tips or own personal experiences which could help me and other new traders to be more prepared to move onto a real money account. Thanks
Hello,
Finish babypips school
Trade on demo account until you fill yourself ready
Find a mentor
Good luck
Finish pipschool
Practice on demo until consistently in profit
Open small account trading micro lots (0.01)
Keep charts simple and clear
Keep journal of your trades
Don’t waste your time on demo, learn until you feel comfortable to place your first trade, open a mini-account, make a small deposit (less than $2,000 in my opinion), trade, lose and learn though the process as you are creating your own trading strategy.
hellooo,
i have been trading for quite sometime. technical and fundamental analysis play a very important role to me while trading. before switching to live account i would advise you to follow some high ranked professional forex traders and look upon their strategies. if you are able to understand and apply their strategies and get benefited in your demo account, you can go for the live trading. likewise, you can also backtest your own strategies on historical data with different time frames and analyse the results. happy trading:8:
Going into live account you should be aware that loss is part of the trade. Opening a micro account with a small capital that you can afford to lose should be a good approach so as to gain trading experience before committing large capital.
Hi HenriqueRocha,
I will agree with the most of the answers you’ve got. The right and best way of learning is through real trading; making mistakes and learning from them. Since you need to spend lot of time through this educational process, it wise to open a micro account and make a small deposit so you can practice.
Thanks to everyone who has take the time to reply. I’m going to finish going through the babypips school whilst trying strategies on a demo and straight after I finish the school area I’m going to open a micro account and learn from my mistakes until I feel I’m ready to move to bigger trades.
Thanks to all
Hello,
According to me to get ready for real account trading, one should be versed with technical analysis and fundamental analysis methods and techniques. One should not trade on assumptions or in trade terms do MONKEY TRADING. Always trade with brains and not the heart. One should be versed with interpretation of different analysis. Before going real, I would suggest you to follow some traders on social trading platforms like Zulutrade.com. Learn how they trade and what techniques they use to trade. When you are capable enough to understand market then one can think of using real money. Make your own strategies and back-test them on historical data and analyze the results and then go for trading.
Good Luck
That’s great to hear! I also suggest you read up on trading psychology articles that could prepare you for the emotional differences between demo and live trading and how you can still stay in control. Best of luck to you!
Name all the books that you read and mention which ones you embraced the concept completely it will give a vague idea if you are somewhat prepared.
How many hours you spent trading? more than a 1000? How many trades you executed? more than 1000? Do you know your trading stats ? DO you have a trading plan written down and printed above your trading station?Plan with all your trading actions, what ,when and where? The same for your money and risk management rules Are they written in stone?.The real money you are planning to invest, can you afford to lose it? if your answers are ‘YES’ to all these - Go and trade the World! if not - make them YES! answers and then - Go and trade the World!
#TradeSafely
Hey there HenriqueRocha!
Great to hear you’re learning FX, I recommend demoing first, to get the feel of things, do it for a couple months, but first things first, make sure you got a system in place with core rules that you don’t break. Find a system and stick with it for a little while at least to see how you like it ( some folks go system to system each week and that is why they lose! System go through good and bad phases none are 100% perfect all the time. 
). Once you got at least 1-2 months under your belt with experience, and you have been consistently profitable, than I would move onto a live account and start at micro, you lose little and gain little, but it’s real money to put the emotions into play. Once you’re consistently profitable there for about 2-3 months than you could up your lots some and make some good cash. [B]Don’t rush ANYTHING IN FOREX [/B], This is very important, forex is a game of patience at times and you can’t and won’t win by rushing things. You’ll see trade setups that look great but are not giving confirmation ( for whatever system you may use ) i would not enter, Follow the rules of the system don’t let emotions take over, EVER! Here at babypips we got a great school to learn from and really great people on the fourms that are totally willing to help with any questions!
Great to hear! Once finishing the school you will gain much confidence and really get a grasp on things. PipDiddy has a great point too, be prepared for the transition, emotionally its a new game once you change over. But you can do it if you’ve come this far! Make a check list for your system too, so when you go to look for trades to enter, you check everything out first, to make sure it 100% meets your criteria to trade. The checklist helped me a ton at first to make sure I didn’t miss anything. A trading journal will help as well, so you can see where you may have went wrong on one trade but did good on others! Take a lot of notes and put the puzzle pieces together you will slowly buy surely improve you system week by week! Always feel free to ask us questions, we are willing to help!
Happy trading,
Jason
Don’t mess with your Stop Loss
Many lesson from real trading , specially in psychology side . but if we are still in poor experience its will be better use low amount of capital which not more than $50 and also using cent account is very recommended .
Totally agree! Concentrate on learning and becoming a good trader. It takes time, alot of effort and there will be setbacks but you will see progress along the way. A trading plan is essential.
Good Luck op.
I was following alpari.com Forex for Beginners course: Forex Trading and Investing for Beginners course. It gave me all the basic knowledge needed to become a good trader and more. But it was not enough; I have learned a lot from my own trading experiences. Anyway the success of the primary education source is very important to start trading with confident. So try and learn as much as possible from what you follow. Don’t stop at the middle. If you fail they are not responsible if you did not follow the entire course. Then practice with a Demo account until you feel you have gain enough experiences to enter the real trading platforms.
Dont be in hurry to enter the market, just give some time on the basics and when you feel a bit confident then you should go for the real account.
I’d say, purchase one TV monitor dedicated to Bloomberg alone. Just so you would know in advance about possible market changes. 
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Expert advisors, are to automate YOUR strategy, someone else’s (like a commercial one) WILL NOT make you rich.