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    Thread: How do I know if am ready to trade live account?

    1. #11
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      Have you even try to think is it possible for you learn Forex business just in a short time and with that short time you can mastered on it? Even for a person who have Genius brain, this case is also applies to them. Forex business is really complicated, even experienced and smart trader who can analyze and predict well the future of market movement still can make a mistake and face margin call repeatedly. So, when the correct time to start trading is depend on your selves. If you has done practice in demo trading with have a good trading results, have a good trading plan, have a good money management and of course with the risk management. I think on that time you are ready to start investing with real accounts. Make sure you have good trading ability, have enough money to invest and the last thing is mindset that has been prepared.


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    3. #12
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      First you must to know you learn is well and have a good knowledge by theory. how to make an analysis and how to make a MM and etc..
      Second you must to have a good mindset and have awareness about forex trading about risk and profit is a part of this business.
      third you have already use a demo account and learn how to make analysis and how to make a good strategy because this a part is a very important for trader because on this part trader will much learn about forex and train to make a good decisions, try do trade according by MM
      Fourth if you have able to make a consistent profit and your system has work 80% it's mean you have ready to trade on real


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    5. #13
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      This is a tough question to be honest, there is no indicator that you can use to know that you are ready for the live account, after practicing the demo account for some time which could actually be from one week to one year, you just take the leap of faith by investing in the real market, knowing that forex is risky, there are many factors that can be considered before making this decision though, how disciplined are you when you see a large movement happening in the charts, do you always find yourself entering because you don't want to be losing out or maybe you calm yourself down and say this one is not for me, this is really difficult to say.


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    7. #14
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      Please permit me to start answering this question by asking a counter question, how long does it typically take for a student to graduate from the university? I am guessing you said four years right, ams for some professional courses, this takes even more, example is doctor, lawyers etc, this mean this set of people spend some good time in learning about their chosen careers, if we interpose this into the forex market I will now ask how long do you think someone ought to spend before claiming to have understood the business.

      I leave that for the reader to answer because each person is going to have a separate answer and understanding, I believe that the forex business is just where we train ourselves before we engage in the real thing, the place for this practice is the demo account, failure to properly get trained might lead to a disaster.


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    9. #15
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      The Forex trading business Markets is built on a system based on a practical level, There is no better way that a Forex Newbie or Forex fresh learner can know how ready they are to practicalize in live account than to trade in the Demo account for 3 - 6 months and check their results over that period of time. If such a trader was able to use their trading system for a period of 3 - 6 months and they successful for that period of time, Then they are ready.

      Also remember that it is a bad idea for a Forex trader to rush into the Live account trading, Else they are going to lose every Money that they invested. Forex is a serious business where massive losses within a short period of time is very possible.


    10. #16
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      Quote Originally Posted by sonibark View Post
      Yes many of us believe we really have to go through demo account first in other to acquire good knowledge, and we are right about that, but after series of training and practicing, we will keep wondering, when are we suppose to start trading on real account? And am Sure many of us have several answer to this, as for Me I think our trading result on the demo will end the judge of that.

      Let's know your own opinion
      there is certainly many ways to know when you're ready to trade in live account and each trader should build his own plan for that, the essential elements should be taken in consideration are the learning process and practice.

      The learning process

      in this stage, a trader should learn and acquiere the necessary knowledge to trade this market perfectely, he need to learn basic trading concepts and adopt a good strategy, he should learn about the money management to be able to control his account along his course, he also should learn about trading psychology to overcome his emotions while trading, these are the essential elements in this stage and he must search for the trust information from trust sources. when you get this you're theorycally ready for the real account.

      Practice phase

      this stage is very important as well as the first one, demo account or cent account are the safe place where you can practice what you're accumulated from the learning phase, you need to take this stage seriously, you can open a demo account with 200 or 300 dollars and try to grow this capital many times to get good perfermence, only this perfermence can judge if you're really ready for the live account, it will gives you the whole confidence you need to continue in the right path.


    11. #17
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      The question is temporarily closed due to repetitive answers found in the thread.
      We are currently waiting for a decision from Administrator.


    12. #18
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      The profit generated has been stable with a predetermined time period.
      Have a strategy in trading, good financial management and so on. A good risk management strategy does not need to be complicated, simple but effective work for ourselves will take precedence.
      Adrenaline that is driven by the forex market movements, makes us have to prepare mentally and emotionally trained. You are free to choose the style of trading, the important thing to remember is to always keep the emotions when trading. Comply with risk management and also the forex strategies that have been prepared previously.
      The time to start invest real account is come when you feel finished with step on above.


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    14. #19
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      Honestly this is total personal assessment a trader have to do in their own, no body will make such decision for us, because we know ourselves better than anybody, and it's a situation where we really have to be true to ourselves, it's not a situation where we will belive in ourselves we have to look at the fact.
      Which are our performances on the demo account, and how Good our develop trading strategy is. If all this are in a perfect condition then we can start small in the market and continue to develop ourselves

      But if we examine ourselves well and we see that we are not yet ready based on our Performance then we should go back to the basis and keep developing, forex is always available any day any time.


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    17. #20
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      Easy to understand am i fit for Live trading
      Mate demo success is just a very very few percents of skill is done. It is not enough for professional trading but it is enough experimental trading.

      Successful Apprentice period: In this session trader has to gather numerous kind of knowledge and take preparation for the time.

      Mindset: Natural habit is not fit for this business so we need a new habit to form basing emotion management and money management. It takes more than 1 years. After that, we have to know what type of trader we want. such as Swing trader or Momentum trader or Professional trader and or Novice Trader and learn that how to make purer.


      Technical Knowledge: There are more elements to learn in forex. Indicator, Candle pattern, breakout, Continuous breakout, Retracement and how to define an entry point or exit point. In this section take another one year to make well knowledge.

      Successful Experimental Period: After finishing the above points we have to prove our skill is enough to survive a long time in this business. In this session, if we do not lose our trading account then we understand we are the fit for professional trading.
      Last edited by amiron56; 09-06-2018 at 08:45 AM. Reason: add word


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