10 of 10: Demo Trading To Feed A Trading Addiction

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...

9 of 10: Lack of discipline and Patience

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.”  This type of attitude and thinking...

8 of 10: "A Go-for-Broke" Attitude

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...

6 of 10: Lack of Psychological Preparation

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...

4 of 10: NO-RISK Control

by Kirk Norwood | Nov 26, 2008 | Demo Trading Series, Emotions, The Disciplined Forex Trader

Awareness # 3- NO-RISK Control Examples of no risk control are: jumping out of an airplane at 10,000 feet without a parachute, going scuba diving without air in your tanks, or going bungee jumping with out a bungee cord.  Trading with out any risk control will have...

3 of 10: Let’s See What Happens Trading

by Kirk Norwood | Nov 25, 2008 | Demo Trading Series, The Disciplined Forex Trader

Awareness # 2- Let’s See What Happens Trading There is NO penalty for just putting on any trade at any given time in a demo account.  Because there is no penalty when demo trading a trader can fall into the habit of not putting on a stop loss, not managing...