1st time trader results, what do you think (3 days) - page 2
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Trading in the demo account is always a good suggestion, but that is all it is. A good suggestion.
It will give you everything but true confidence, because when it comes down to watching your money fluctuate from negative to positive or vice versa, nothing in the demo account will train you for that.
My suggestion is to continue trading demo, or if you're smart, open a $500 account and trade 0.01 lots per trade- NO MORE than that. This way, you will be on your way to learning how to cope watching your p/l.
Cheers,Walander is 100% correct. And I'll repeat what he just said but say it in my own words simply because it deserves to be said more than once as it's that important. There is no demo training/trading available in any market that can prepare you for trading with real money because virtual money gives you a "virtual feel" only of how it is to trade and virtual money will never push your emotional and psychological buttons in the way that a Live account will. No amount of debating the subject with someone who has not traded with real money can convince the person until that same person takes the leap and starts a live account. Only then will that person know it's true. It deserves to be said many times that when you feel ready to switch over to a live account to start small and you will thank yourself later. If you become confident on a live account don't immediately ie. confidently raise your lot size to an outrageous figure, raise it slowly and incrementally using your best money management common sense. cheers, Goldensight