I am always telling new traders to practice on their demo account until they become consistently profitable.
Because I have found that it is a way to program a success pattern in your mind. Your mind doesn't distinguish between a live and a demo account, however we do. Sometimes we allow emotions to interfere with the successful program that our mind is running once we get a live account.
We want trading to be so ingrained in us that it is almost instinct. Your demo gives you the opportunity to train your mind toward automatic success.
Your brain begins to recognize patterns of success as you practice on your live or demo account, it doesn't matter which one?.
As a trader, every time you enter the market, you take a risk.
YOU CAN NOT BE BE AFRAID OF RISK!
But you must make SMART, CALCULATED RISK in the market. Risk no more than 2% of your capital in a trade. 2% on the right side of the trade is more than enough to provide your with a very comfortable life style. 2% on the wrong side of the trade can also take you out. That is why smart calculated risk give you the biggest advantage in the market. When you don't over trade your account it gives you more control over your exit as opposed to being forced out of the trade by the market.
ENTER THE MARKET WHEN YOU CAN SEE A CLEAR ADVANTAGE!
Use your demo up, blow it up several times if that is what is necessary for you to gain an understanding of what is going on in the market.
Take your demo seriously. Practice your successes and it will help your mind begin to eliminate those habits that are counter productive to good trading. Practicing success in your demo translates into success in your live account.
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