Very true, thank you. My main crutch is the psychology of money. I’ve seen great demo traders turn to mush when real world events occur, even when diligently prepared for.
There is a bluntness and almost a harshness when real money is involved. It appears to create a type of ‘survival-complex’, where years of training can fly away due to some deep & rooted psychology.
The best way to handle this, in my opinion, is trade real money. Feel the elements! Don’t shy away for perceived ‘safety.’
Cost-of-failure. A brilliant term. Thank you for sharing that article. Perhaps, in my humble opinion, cost-of-failure would not diminish, because of the web of safety demo-trading provides. Hiding what real money is like, of which nothing can compare.
But I concede, you are probably correct.