It’s all the fault of greed and starting off while knowing too little. Disregarding the strategies is a major factor.
A demo account is only for practice not for real trading. I opened and start trading with a demo account a few years back and start making a profit with that account but when I start real trading with real money I have blown my first account very fast but after this survive in forex after a lot of hard work.
Failing is not important, not learning through failure is the biggest mistake, that a trader makes. You must learn from your mistakes and you shouldn't repeat it and learn from it.
Things are different when you trade with your own money. Emotions are difficult to control. Plus in a demo account we usually trade with more money than we are actually willing to deposit in a live account. We also tend to trade in bigger lot sizes to gain more profit because going big feels good. However, this is not the case in a real account because there a re a lot of constraints to be kept in mind. If you think you can control your emotions and actually practicing in a demo account like you would do in real, then you might think of going live. My advice would be to try with a small amount first.
Obviously, but many traders, when does the Demo Trading Successfully, they thinks that they would be able to survive in the Forex Market as well. But Demo and Real Market have lots of differences, which the traders should learn.
- Hi Ark93, If perchance you've revisited this thread, would you consider updating us on what you have learned since your last post here... your original question certainly stimulated a lot of comments and suggestions!