This is my first trading journal, and I believe forex trading is a marathon, and not some get-rich-quick way. I’m eager to trade with a live account, but I believe I should get my experience from a demo account first. So please, advise me along the way, as Im really lost:(
You should start with a demo trading account for sure. Test out your trading setups and strategy so that you can understand all the metrics around your strategy. This is very important when you are ready to switch over to a Live Account, because unless you know what you basic metrics are, you will likely ditch the strategy the moment it goes into a drawdown.
[QUOTE=“ftg;678119”]You should start with a demo trading account for sure. Test out your trading setups and strategy so that you can understand all the metrics around your strategy. This is very important when you are ready to switch over to a Live Account, because unless you know what you basic metrics are, you will likely ditch the strategy the moment it goes into a drawdown.[/QUOTE]
Thank you for your kind advice. But the problem is that I do not know where to start coming up with a strategy. I do not know where to start.