When you open your live account decide on the amount of money you can and will lose before you stop trading and go back to learning. Better yet, learn to trade first. Do not decide to stay in the market until your first nest egg is gone. Experience shows that many who have been at it over a long period of time end up making money. Once you learn how to trade, large sums of money can and are made by those who have taken the time to learn and develop proper trading skills. It is a wise practice to take time to learn to trade before trading real money. The methods we suggest to practice and learn are to do Simulated trading, Demo trading, and Visualization trading. These methods are talked about in our free online forex trading tutorials. Preservation of capital is one of the first lessons that should be learned. Trading is not a get rich quick deal. The market doesn’t care whether you make money or not. There will be losses and wins in trading; learning to manage each of these situations is part of trading. We have seen traders, or should I say people trying to act like a traders, put two or three hundred thousand dollars in a trading account, run the account up over three million dollars then lose it all. They were lucky in the beginning, caught a trend and placed hundreds of lots on each trade. As the account grew they became more like gamblers rather than traders. A trade would be up by a hundred thousand dollars, and rather than take the profit or place a protect profit (stop loss) they would just let it turn on them and take a loss. It they had taken time to learn how to trade they would still have their initial deposit and a good return on the money put into the market. The jump start strategy is a good basic starting point to learn how and when to get into a trade and make a little bit of money while developing trading skills. First learn basic skills then learn how to use tools to capitalize on making money.
