NEVER INVEST MONEY THAT YOU CAN'T AFFORD TO LOSE.
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In this post I will discuss the difference of trading in Demo account and in Live account. This is the common mistakes that traders did not notice while trading, that's why you can hardly make a profit in binary option. This area in trading is somewhat to be a hobby of a trader but they separate their emotions in trading between demo account and live trading.
I know you have already experienced this kind of emotion while trading in your demo account. You are so relaxed to place trade even you know the market is doing good for you, in the end you still winning. Why? because you are trading in a safe environment where in no money from your pocket is involved, even you lose everything then it will be just fine because that's only a demo trading. Here is the pick, while trading in your demo account account, you must feel that the money you are trading is a real money that can only survive you for your uncertainties in life. Feel it and be serious, that if you gonna loose all the money will become a nightmare of you throughout of your life. Treat it as your own money, don't mess with it cause that will reflect when you trade into your real account. My point here is, you are trading with your demo account to find out what strategy that fits your style in trading. If you find that your demo account is just a betting game then you will do the same in your real account, trust me it will happen. So, the purpose of your demo account is to exercise the three keys in profitable trading that will make you grow in and out of your trading world.
Having a demo account is an advantage to familiarize with every system you are going to do in trading to become profitable. You must learn to bring out the giant in you, the superman in you to develop a well structured trading system for you to use in your real account. I told you, emotion is emotion, you cannot remove your emotion 100%, you are still covet with fear and uncertainties but that's a part of a trading process, the only difference is you must know on how to minimize that fear, control of your own self so that you can find a better entry in binary trading. Focus on the other side of the coin not in your fear of losing. In the image below is my demo account for you to see what I am talking here.
Having said that, insert in your trading plan this one rule, that if you loose 3 consecutive trades you must stop whatever the market is showing you. It is the most effective way to relax, make another start of focus and you will be saved from burning your account. Why? because if you lose many times, your ego will insist you to trade more to recover your losses until your account will turn into zero, believe me. So, in order to cut your losses, please stop trading at your 3 consecutive losses. On the other hand, in your demo account you must practice to win a 7 to 10 wins before a loss. Do that religiously and study your wins and your losses, identify your winning entries and losing entries and that will make you a profitable trader.
Devote some time to study your trades, and do not make an entry upon opening the platform. Observe first the movement of the market, review your trading plan before putting your first trade because that will induce your resiliency in your trading. It will fire start your trading and boost yourself confidence in your every trading session. You must also avoid distraction, close all open social media accounts and focus on your trading only.
I remember one time, my guru told me to study about candle stick pattern and yes i studied them but this did not keep me from being profitable because the market is still the ace in trading. Patterns are just a mathematical equations that draws formation every candlestick found in the market. Really, they appear but not all the time can make you a decision out of it. Learn to study the psychology of the market, then and only then you can have a strong decision to position your winning entry.
If you don't have an account yet then click the button below to create your demo account.
and this is my real trading account.
Having said that, insert in your trading plan this one rule, that if you loose 3 consecutive trades you must stop whatever the market is showing you. It is the most effective way to relax, make another start of focus and you will be saved from burning your account. Why? because if you lose many times, your ego will insist you to trade more to recover your losses until your account will turn into zero, believe me. So, in order to cut your losses, please stop trading at your 3 consecutive losses. On the other hand, in your demo account you must practice to win a 7 to 10 wins before a loss. Do that religiously and study your wins and your losses, identify your winning entries and losing entries and that will make you a profitable trader.
Devote some time to study your trades, and do not make an entry upon opening the platform. Observe first the movement of the market, review your trading plan before putting your first trade because that will induce your resiliency in your trading. It will fire start your trading and boost yourself confidence in your every trading session. You must also avoid distraction, close all open social media accounts and focus on your trading only.
I remember one time, my guru told me to study about candle stick pattern and yes i studied them but this did not keep me from being profitable because the market is still the ace in trading. Patterns are just a mathematical equations that draws formation every candlestick found in the market. Really, they appear but not all the time can make you a decision out of it. Learn to study the psychology of the market, then and only then you can have a strong decision to position your winning entry.
If you don't have an account yet then click the button below to create your demo account.
Your capital might be at risk.
Hope this post can give you another insight about real trading binary option. Please leave a comment below if you have question about my post and i will try to answer to the best of my knowledge.
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