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    Thread: Can you really master money management without exposing yourself to live trading?

    1. #21
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      no i think that a trader can never master money management without trading in his real account, because some times it happens that a trader do good trades in demo account, but when he comes to real trading account then due to emotions he get losses in his trades, so practice of money management is also needed in real account.


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      I do not believe demo trading is all for new trader.for gettingvsuccess and for controlling our mistakes and for applying our money management and for controlling bad nature ,we need to start real trading and should practice with various investment.


    3. #23
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      Actually, you can master a good money management using just demo trading account and develop unique way of handling your risks adequately over time, but the only thing you can never master using demo is your emotions because real money is not involved, but every other thing is possible on the demo account. All you need is just take it serious!
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      Well you can do so. In fact, money management is dependent on how you can be disciplined and always stick with your own rule. I believe many traders are good at managing money but still lose money because they are not able to control their own emotion.


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      no in past but now i can manage money i know the risk of forex market can only minimize with the help of powerful money management plan. we can adopt an approach to trade successfully and also we should do some practice cause practice can make our skills smart and better.


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      when you want to learn trading of currency , the first thing is to register and trade demo account , you trade demo account so as to master that art and science of trading, among other things to learn is money or risk management , which you can apply to both live and demo account , althgough real account makes it more practically


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      Quote Originally Posted by obis2 View Post
      when you want to learn trading of currency , the first thing is to register and trade demo account , you trade demo account so as to master that art and science of trading, among other things to learn is money or risk management , which you can apply to both live and demo account , althgough real account makes it more practically
      demo account has a power to make you familiar with the basic movement of the market, it really is a great tool for such purpose, but as far as money management is concerned, I highly doubt that demo can provide any assistance since all the operation you do on demo account is simulation based


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      Yes off course you can, you just need to be very careful while practicing in demo trading, you should select the equity according to you investment, like if you have 1000 dollars to invest than open a demo account of same equity, and practice like you are trading in your live account, when you start live trading you should trade like you practiced.


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      I think no we can,t be master in money management until enter in real trade and understand the minus and plus because Forex market don,t move only one direction so we have to follow the trend after analyzing .


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    11. #30
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      Quote Originally Posted by zarra View Post
      Most people often believe demo account is all that we need for securing our future success in live account, this maybe true, but I haven't found the evidence for myself, I have done very good demo practicing with practically 70% win rate, but when it comes to doing the same in live accounts, it is never the same. I often end up losing the trades I normally wouldn't lose if it was on a demo account
      This is why i don't like demo, because we never learn money management nor the emotions are involved in the demo trading, all we do is that trade like a robot but when we use to have live one it is hard out there, anyways talk about the money management which is easy, all you have to do is understand and nothing else it is easy work.
      I'm not RANDOM you just can't think as FAST as me


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