Awareness # 9- Demo Trading To Feed A Trading Addiction
Traders need to remind themselves of why they started to trade in the first place. If it is for fun then never open a live account for the market will take all of your money. I have seen traders literally lose millions of dollars in a few months because they did not take it seriously. When they were up in a trade they would get greedy and leave the trade on, not even trading with a stop loss, then only to have the market turn and come back against them giving them a loss larger than the profit they were going to make.
One way to get over your addiction of always having to trade is to practice visualization trading. Go over a set up in your mind. See yourself entering the trade, managing the trade, and exiting the trade. This way you will be developing your skills and not developing costly habits.
If a trader is not trading to make money, then they should not trade. For if a trader is not making money then they are probable losing money, causing frustrations, and hardships on themselves and their finances.