Foreign Currency Exchange Trading How to Make the Transaction from Dem


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Foreign Currency Exchange Trading:How to Make the Transaction from Demo Trading to Live Trading. :

Foreign Currency Exchange Trading:How to Make the Transaction from Demo Trading to Live Trading . By: Jay Molina From:

Slide 2:

If you are a beginner trader you should start trading with a demo account until you have developed the trading skills and trading mentality that are necessary for effective trading. Anyone who is interested in foreign currency exchange trading will have to eventually make the transition from a demo account to a live trading account. The transition does not have to be hard. In this article I’m going to teach you 4 ways to ensure your transition is as smooth as possible.

Slide 3:

Make sure you are ready: One of the biggest mistakes newbie Forex traders commit is that they start to trade their hard-earned cash before they are ready to produce positive results. The best way to ensure you are ready is by evaluating your trading performance for the 3 months. If you have been profitable for 3 months in a row then you can start to trade with real money, otherwise I would suggest you keep on working on your trading skills. Select the right broker for you: It is critical that you choose a broker that allows you to achieve your goals and that is synced with your trading style. What do I mean by that? You need to find a broker that will provide you with low spreads, and powerful trading tools and platforms. A trading platform that provides accurate data and useful trading tools is crucial for FX success.

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Start small: If this is your first time trading with your real money I would suggest you trade only 10% of your net worth ( this means that if you have $10,000 in the bank then open an account with $1,000). The reason why I recommend this is because many traders become very vulnerable when they are trading their own money and many time they become irrational. Also, if you lose $1,000 in trading capital you still have $9,000 to try it again, never take trading decisions that might take you out of the game.

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