Posted In: Stock Markets
When you are a Forex a trader, you should have some experience of trading in the market with a live signal. Fortunately, Forex market provides the traders to trade in the market with a live signal. When you are in the market, you should not mix it with a demo account and consider your risks of losing capital and making a profit. Most of the traders forget they are trading in a live account. Real and demo account are same, with the difference of trading with real money. In your demo account, you have some taken some strategies which are risky and can ruin your money if your trade is lost. In the real account, you cannot take your risk much and you have to maintain a reward to risk ratio. Reward to risk ratio is the strategy which will give you reward for taking risks in your account. When traders are trading CFDs with their live account, they should remember some things in their mind.
Things to remember
Don’t daydream: You are trading with your real money. Don’t dream in the Forex to make money or to make millions in your trade. You will make money slowly as you trade in the Forex. You need to consider trading as your business. If you look at the professional traders in the United Kingdom then you will notice that every single one of them is trading CFDs with reputed brokers like Saxo and considering it as their business. If you have made hundreds of dollars on your demo account, you could have made it because you did not risk your real money. In Forex, you are risking your capital to place a trade. Be realistic and make a logical trade in the market to make a profit.
Forget the demo account: Demo account and real account are two different things. Forget your demo account when you are in the market. You will be trading in your live account with real money. There are some strategies which traders follow in their demo account, but in the live account, do not take risks in a live account like you used to take in demos. But when are developing a new trading strategy for trading CFDs then make sure that you use your demo trading account to eradicate the loss of losing real money in the market.
Do not trade without money in the market: Traders trade in the market when there is no money. They lost their trade and they have to trade the market to make a profit to get that money. If there is no money in the market, do not trade the market. Place your trade when you can make money from the market’s money. By the word “money”, we are simply referring to the perfect trade setups in the market. Most of the novice traders in the forex market loses money since they trade with emotions in the market. But if you truly want to become the professional and successful trader in the forex trading community then make sure that you trade with rational logic.
Price action trading strategy
Price action trading strategy is often considered to be the most profitable trading system in the world. Most of the professional traders use this trading system to execute high-quality trades at the key support and resistance level in the market. But when you use the price action confirmation signals in the market make sure that you use the higher time frame in the market to filter the best possible trades.
Conclusion: Demo account and real account provides a live signal to the traders to trade in the market. The traders should be trading with skill and analyzing the market before placing a trade in the live account. If you want to become a profitable trader in the forex market then make sure that you learn the art of price action trading and trade the market with proper risk management factors.
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