Novice traders usually learn to trade on a demo account. And it is right! But now, having learned to successfully trade, remain a successful trader in a real account?
And this task is somewhat more complicated.
Often, a novice trader thinks that it is just as easy, and from the very first deals, failure and disappointment await him.
Therefore, before moving from a demo account to a real one, remember several important nuances.
Remember the risks of trading.
The most important truth is that there are no risks on the demo account. All losses and failures are written off from the memory of the trader at the next automatic replenishment of the account. The trader is in the comfort zone because he is not losing his money.
When a trader trades on a live account, he invests his money. And losing, even the smallest one, leads to disappointment and self-doubt.
Which in turn leads to irrational decisions.
To cope with this, the main thing to remember is that losses are part of the trade, the main thing is that the profit, in the end, should be more than the losses.
Remember the psychology of bidding.
Trading on a live account is very emotional. When switching from a demo account, the trader feels tension and excitement. If the deals are successful, then the trader feels euphoric, if not, then anger.
And here the most important thing is to try to keep the whole storm of emotions under control. Remember that losses are part of the trade, do not risk trying to cover them with larger transactions. Plan your budget properly and without emotion.
Be aware of market changes.
A few words about the changes. Not all traders manage to successfully trade in the slow or side market, just like very few traders are able to cope with the volatility of the market.
Not always the behaviour of the trader is the same when trading on a demo account and on a real account. Therefore, the best advice would be – do not trade big money. Trade minimum bets, only those that you are ready to lose with ease.
Try different times until you find the optimal market movement and time period for yourself.
And now you are ready to switch from a demo account to a real one. We talked about the psychological aspects, now a few words about the practical side of the issue.
Each experienced trader has his own working strategy. All experienced players insure their decisions. One of the effective solutions is to use signals for binary options. We already wrote about how to choose the right signal provider.
For our part, we test a lot of strategies and write video reviews, we always use signals for binary options vfxAlert.
You can read about how these signals work HERE.
Also, if you are still studying and are on a demo account, then vfxAlert offer a free version for signals, which works with all brokers and may already serve you as a tool for trading.