The first steps are always difficult to do. However, they are needed in order to become the best version of yourself. Perhaps you felt it when you learned to drive, ride a bike or swim. The fact remains that fear will always be present and you should not allow it to dictate what to do and what not.
Demo accounts are amazing. They allow us to practice from the very beginning, learning the basics of trading in Forex and even perfecting more advanced strategies with absolutely no risk.
However, as is well known, higher levels of risk imply higher returns (or losses, if you are not prepared for these risks). And now, 3 signs that will help you understand whether it is time to trade for real or not.
You have full control over your emotions
This is most likely not the first time you hear about it: emotions and trade are not made for each other. You need to limit emotions as much as possible during trading, as they create a danger to your account.
Qualitative control of emotions can be understood as the absence of panic in those moments when your positions go completely the other way. Of course, this is not easy. But, not impossible.
You are in a plus every month
Don’t get me wrong. This does not mean that bad days or months will never come. If you have been working in this industry for some time, you probably know that markets sometimes make unexpected reversals. And you just have to put up with it.
However, a trader who is ready to go into the real world already has the skills to foresee failures, allowing him or her to get stable profits most of the time.
Your losses do not drive you crazy
So, your position has closed at stop loss. How will you respond? A trader is ready when he or she realizes that these things happen and are part of life.
Instead of screaming, the prepared trader will focus on analyzing what went wrong and take the necessary steps to correct it in the near future.