Kingstone
Active member
When it comes to forex trading, what will determine your success journey? Is it the amount of money you make via the demo account or the losses you make trading a real account that will serve as lessons to you? Profits and losses are parts of every business and forex trading is home to both simultaneously.
Just in the past year, a friend of mine opted to learn more trading from his friend. The friend had sugar-coated him with a demo account by showing him how much he has made with a demo account and he has never tasted and tested a real account before. According to the story, he said he needed just some money to start trading and be making money.
My friend is so convinced as he believed him. Sad to say, he did not ask the right questions because he is a novice himself. How can you let that happen? Later, my friend got his friend a whopping sum kf $200 for trading.
Emotions kicked in, demo strategies that work well began to pump in losses. Time to go back to the drawing board? No, the friend burned all the $200 in just 2 weeks of trading. I was so terrified because I was still learning forex trading then (6 months into forex trading).
Nothing could be done and he had to accept the losses and move on. Never compare your success on a demo account to that of a live account. Use a minimum amount to gain your first trading experience and see how you can build it up higher.
Just in the past year, a friend of mine opted to learn more trading from his friend. The friend had sugar-coated him with a demo account by showing him how much he has made with a demo account and he has never tasted and tested a real account before. According to the story, he said he needed just some money to start trading and be making money.
My friend is so convinced as he believed him. Sad to say, he did not ask the right questions because he is a novice himself. How can you let that happen? Later, my friend got his friend a whopping sum kf $200 for trading.
Emotions kicked in, demo strategies that work well began to pump in losses. Time to go back to the drawing board? No, the friend burned all the $200 in just 2 weeks of trading. I was so terrified because I was still learning forex trading then (6 months into forex trading).
Nothing could be done and he had to accept the losses and move on. Never compare your success on a demo account to that of a live account. Use a minimum amount to gain your first trading experience and see how you can build it up higher.