by Kirk Norwood | Dec 4, 2008 | Demo Trading Series, Emotions, The Disciplined Forex Trader
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...
by Kirk Norwood | Dec 3, 2008 | Demo Trading Series, The Disciplined Forex Trader
Awareness # 8- Lack of discipline and Patience When demo trading a trader should be developing discipline and the ability to wait for a trade to come to them. It is easy to say “This doesn’t count; its only a demo account.â€Â This type of attitude and thinking...
by Kirk Norwood | Dec 2, 2008 | Demo Trading Series, Entry Signals, Exit Signals, The Disciplined Forex Trader
Awareness # 7- "A Go-for-Broke" Attitude Demo trading can be fun and we believe it definitely has its place when you are learning to trade the Forex markets. It's also appropriate when practicing your entry and exit signals. BUT trading forex in a demo account is NOT...
by Kirk Norwood | Dec 1, 2008 | Demo Trading Series, Trading Strategies
Awareness #6- Discarding Demo trading Forever One very important part on a trader’s path to success is to continue to demo trade. By all means trade it like a live account. In our opinion demo trading works when it prepares a trader to become skilled in...
by Kirk Norwood | Nov 28, 2008 | Demo Trading Series, Emotions, The Disciplined Forex Trader
Awareness #5- Lack of Psychological Preparation When a trader is using a live account he pays more attention to the results, the cause and effects, or at least he should. This gives psychological feedback to the trader. In demo accounts the ability to learn from...
by Kirk Norwood | Nov 27, 2008 | Demo Trading Series, Trading Program
Awareness # 4- Lack of Performance Analytics Traders have the account history to monitor what they have done on their trades but they lack the discipline or knowledge on how to use this information. We like to suggest that you take blocks of 20 trades to analyze. ...
