If you’re a new trader trying to make sense of forex market movements and making money while you’re at it, the whole experience can be exciting and overwhelming at the same time. This is why it is important to work on your trading psychology from the very start of your trading endeavor. Perhaps one of … Continue reading Trading psychology tips for beginners
Category: Trading Psychology 101
How to make the most of your Demo Trading
Beginner traders are often recommended to start with a demo trading account before risking real money on a live account. However, there are also many who question whether this step is necessary as demo trading has several stark differences with live trading, particularly in the trading psychology aspect. Despite that, demo trading is a good … Continue reading How to make the most of your Demo Trading
Are you ready to trade real money?
If you think you are finally ready to make the transition from demo trading to having a live account, then you should also be psychologically prepared for it. Not only will you have real money on the line, your emotions might also have a bigger impact on your trading decisions. A good rule of thumb … Continue reading Are you ready to trade real money?
Psychological differences of demo and live trading
Some beginner traders in their first few months of live trading end up surprised that they are having difficulties replicating their success in demo trading to a real account. This is perhaps a result of underestimating the psychological differences between demo and live trading and not being able to make the proper preparations for it. … Continue reading Psychological differences of demo and live trading
Tips for part-time forex traders
Since forex is a 24-hour market, trading can be done part-time on top of a full-time job. However, it is also important to be psychologically prepared for this trading approach as it requires some lifestyle considerations and adjustments. Without making these, you might be setting yourself up to fail and letting the frustration take its … Continue reading Tips for part-time forex traders