Think you're done with demo trading? Mike gives us 3 tips to keep in mind before you go live!

Community Member Spotlight
21

Hello everyone, Mike here.

I see my interview got posted again.
Awesome! Thanks!

It’s been 3 years since.

I went back over all the things I’ve said.
And you know what?
Not bad at all. Actually.
I thought for sure I’d say some stupid stuff. But I guess I didn’t put my foot in my mouth too badly. I was young, then.

Well, not physically speaking.
But we’ll call it…trader mentality wise.
I’ve learned a lot since then. And you know what? I’ll learn a whole lot 3 years from now and then look back at this post and think pretty novice of myself in the same way as I am now. Of course. Right?

But, to keep with the subject at hand.

Demo.

Guess what?

I’m still demoing.

And.
So what?

I mean, I don’t care what anyone says. It’s what I do.
Sure, I went live. In fact, my journey journal thread takes you all through my first time experiences. And from time to time I went back to demo. Then back onto live. Then back again. But I just don’t see the big deal about going live. Honestly.

Who in their right mind thinks their gonna make some money from the market?
(Boy…I know I’m not gonna making friends this way)

Look.
I made some very good points back then, answering that one question.

  • Make it a goal to make break-even on demo for 6 months.
  • Trade live for 6 months with a small amount of money. With the same goal as previous. B.E.

If you accomplished those 2 incremental goals, that means you went a complete year trading the market and come up breaking even. That’s very impressive!

There’s no talk about making money during this time, is there? No way.
Yes, you’re gonna have to make some money, but then you’re gonna lose it also. It’s the game. And in the end when you come out even-steven you’ll actually know something.

Then you start building.

Cause when you’ve prove to yourself that you can navigate the market without being shredded up to pieces, then you’ll be on your way.

Let’s see…advice that I can give…

  • Understand what a real trader means.
  • It’s not about the money.
  • Experience will get you there.

I’m always here on Babypips.
Mike

7 Likes
22

Warms my heart to have you back here @MikeWolski. Glad all is well with you!

Great advice as always.

1 Like
24

Thank you for sharing your long-road experience

25

This part I really like. When you’re at a crossroad, I guess you just have to think about what kind of future do you want. I could guess that it’s not an easy decision to make, but when you know what you want, it becomes rather simple.

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Thanks @mikewolski. I like you! I’m a newbie in forex trading and I must tie myself around you for knowledge. Your trading experience worth sorting for.