There is to be a temptation among people learning forex trading to want to feel like they understand trading before they start trading. This isn’t the best way to learn to trade.
Learn Trading by Doing
The FEAR that most people have is that when they begin trading, they don’t want to lose money. Nobody wants to lose money, we become forex traders so we can make money.
If you haven’t traded any real money yet, it seems logical to want to have a winning system in place before putting real money on the line…this is why demo trading (trading in a practice account with pretend money) is typically advocated.
The PROBLEM with Demo Trading
Demo trading is a good thing to do. It does have a major disadvantage. People tend to get bored with demo accounts. We know it’s pretend money, so we don’t take our trading seriously.
I recommend that you open a tiny trading account with REAL money. You can open an account with as little as $50. I recommend opening an account with at least $100.
Allow this account to be your “learning” account.
Although your goal will be to make money from the account, consider this first account as part of your forex trading education. Give yourself permission to trade this account even down to ZERO in order to learn forex trading.
Making Forex Trading REAL
Approximately $4 TRILLION is traded every day on the forex market. This is ALOT of money, and a huge opportunity for you to live a fantastic life & to do the kinds of things you want to do in life.
I’m recommending you start trading with real money for an important psychological reason:
If you trade with REAL money, forex trading is REAL for you.
When you start making trades that earn you $1.73, $2.11 or even $0.12 something magical will start to happen. You’ll start seeing FOREX as a REAL way to make money for you.
When you see your $100 account grow to $110, you may choose to throw in another $20. Then that $130 account will grow to $150. Then you may toss in another $50. As you see the small account grow, you’ll naturally want to invest a little more in it at a time.
Since your account is already setup, it’s easy to invest another $10, $20, $50, or more because you can simply add it to your account. If you don’t have a live forex trading account setup, you’ll tend to procrastinate.
You’ll learn lessons along the way. You’ll lose money at times. Even though you don’t want to lose money (nobody want to), you’ll also learn VALUABLE lessons from the money you lose.
Whether you take a profit or a loss from a trade, the fact that it’s REAL MONEY will spark an interest in you that simply isn’t there with a demo account.
The SOONER you can overcome fear that you’re going to lose money, the CLOSER you are to becoming a PROFITABLE forex trader. The longer you wait to open a REAL account, the longer you’re postponing your success.
Think about this honestly for a moment…“How many things have you spent $100 or more on that were pure WASTES of the money…money that you spent that doesn’t have any OPPORTUNITY of earning you an income”
After you answer that question honestly…ask yourself this question “How much is it worth to INVEST in learning this VALUABLE skill that will benefit me for life?”
By making a decision to open a real forex account and start trading NOW, you’re on the true path to opening up a tremendous new REAL opportunity for yourself.
Many times I wished I started trading earlier than I did. I’m GLAD that I trade NOW Make this commitment to START NOW and I’ll continue to show you the next step!
- 7 Habits of a FOREX Winner!
- Why I Teach Forex Trading
- How to be a Forex Trading Expert
- 7 Habits of a FOREX LOSER!
- Successful Forex Traders vs. Unsuccessful Forex Traders