Hey Forex gurus,
Am Steve and I’ve gone through the school of pipsology but I still feel this fear to go live trading even after successful demos.
could that mean some inadequacy?
What courage does it take to go live?.
Its a very natural and a common feeling that most of the trader have when they start trading, just start investing very less amount and slowly when you grow in confidence, invest more.
Hi Steve. I hope you are well today.
I think you should try it with a small budget you can afford. Let’s say $100. Just try because who doesn’t risk don’t drink a champagne
BUT! If you start losing just stop… Because it is like a casino you will play thinking getting your funds back and will lose everything you own. Just don’t switch off your brain brother
Good luck!
All I can say is that if you are afraid do not trade. Fear = lack of knowledge = losses. Spend more time on education if you are serious about trading and at some point go live with a small amount in a mini-account to test your strategy forward. In case you are afraid to lose that deposit than trading is just not meant for you.
Scared Money Never Wins, Make sure you break this fear barrier (at least most of it during the first week)
and as bear advised you, start with small capital ($100) and with a very small % of your capital per trade ($1) that is enough for you to use 100% stop loss, which is big enough to eliminate noise if your entry is in its right place.
Kindly take a small Risk. You can never move forward until you use a live account. Set some money aside that you can afford to lose and get a live account. Trade with it and understand what the difference is btw demo and a live account. This will really help you.
Starting with a small capital with money you can afford to lose is a safe way to start . It reduces your risk and with that you have trading experience before committing larger money
If you are still afraid just take more time for preparation.
No need to hurry
I agree with you. Fear can be your greatest enemy in forex trading. The only way to defeat fear is to gather enough knowledge. You need to understand what you are doing. If you do, there is no reason to be afraid. Go back to school or take a risk as a novice.
Hey Steve,
As you said you went through pipsology and demo so now is the time to go live. That’s the one and only right path where you should go. Open a live account make some small deposit and start trading(testing your strategy), that’s the only way how you can learn. Being scared will not help you at all. I can tell you that you should learn through experience which means lot of trading, losing accounts and learning from the mistakes.
Good luck
Hi, Why not start trading with demo account first, until you gain enough experience and confidence? You cannot run from trading with demo account first, since to succed with fx, you need both knowledge and experience.
You are right , after that try to deposit in small amount of funds , besies knowledge and demo experience , we also need live experience to felt how sensation using real money to make sure our mental be maturity and steady also