Do you know why the successful traders in demo account could not pull off their magic in the live account? It is because when they are trading in a demo account, there is no fragrance of money. Do you know why there are millions of people in this market knowing that winners are very random? It is because of the money. We need money in our everyday life. We want to make a stable source or more source of income to become rich and Forex trading is very easy to make money. You do not have to go to an office; you do not have to wake up early. You have to place a trade from your computer and watch your profit grows. Many people think that demo trading is a good advantage of Forex. It is indeed. There are also bad sides of demo trading. In this demo, the good side is the bad side. You do not risk your money here that is the good side and the bad side is you do not learn from your trade if you do not use the money.
Demo trading
Demo trading does not need money and that is why there are many people who are successful in their demo trading but having a hard time to make a profit in their live account. You have to realize there is a mammoth difference in your trading experience and your mindset when you place your money on the market. When you start using your money in forex trading, your real trade will start. If you look at the professional traders in the united kingdom then you will notice that every single one of them trade the live assets with the reputed brokers like Saxo after developing solid basic in this industry. So if you truly want to become a professional trader then make sure that you trade the live assets after developing a solid trading strategy in the market Tax preparation Unidos Tax & Immigration Services Customizes all Income Tax.
No risk exposure
Also in a demo account, traders do not use a stop-loss. They do not use it because there is nothing to lose. If there was real money, they would have thought of all the scenarios of the market and place a stop-loss if the market goes down. In the real account, they use stop-loss because there is money to lose. When you are trading with stop-loss in a live account, you are trading with new things. Traders who practice in demo take all the experience of demo trading like a live trading. When they come to the market with money, they take many strategies which they have not used in their live account. They lost some good money and they risk their money more to make a profit. This is the reason, the absence of money in demo trading, that makes successful demo traders lost money in their live trade. Forex trading is considered to be one of the most complex businesses in the world so in order to make money you must have a solid trading plan GST compliant accounting services
Trading in favor of the trend
There is saying in the forex market that the trend is your friend. So if you truly want to become a profitable trader in the forex market then make sure that you trade in favor of the long-term prevailing trend in the market. Most of the novice traders in the trading world loses money in real life trading since they don’t know how to trade the market properly. They simply execute random trades against the trend and ultimately blow their entire trading account. As a professional trader, you will always have some losing trades in your trading account and you need to embrace those losing orders in the market. Try to execute the trade with proper risk management factors in favor of the long-term prevailing trend.
