I am a BIG believer in demo trading any strategy or system before taking it live…..
And one reason for this…is obviously to TEST that strategy to make sure that it has a statistically valid EDGE….
And as far as testing is concerned….its important to allow enough trades before making any determination on its overall profitability…
I suggest a minimum of 30-40 trades and preferably around 50-75 trades before really digging into the data…
In addition to testing, Demo Trading also helps you get a good feel for learning the mechanics of the strategy….seeing if you are comfortable taking the entries and exits…and basically finding out the INs and OUTs of the particular strategy…
Once you have Demo Traded for a while and are starting to see some progress…its time to move to Live Trading…
I’ve seen many traders make one BIG mistake...
They make a Trading Plan…they learn a strategy…they demo trade the strategy...they start making progress with the strategy…but then…
…..they never take that final step to transition from demo trading to live trading…..
After putting in all that work…they just can’t seem to make that shift…
They just can’t leave the COMFORTS that demo trading offers….
Look here…….Just like a lot of my fellow traders out there…
I LOVE trading…It’s my PASSION….but my number 1 reason for trading is……
TO MAKE MONEY…..
And I hope it’s is your number one reason for trading as well……
People get involved with Forex trading for all sorts of reasons that they….themselves….. may not even realize or admit to…
….it could be for the challenge…..or for the excitement…..or something else…
Listen…..that’s fine, if that’s the case….but I say YOU got to be real about it……
By not taking that step from Demo Trader to Live Trader is…
a Big RED FLAG that shows your primary reason for Trading may not be to Make Money.