Someone who just started to trade in forex market will begin to use the Live account if he has gained a solid experience on forest market and strategies that is to use. He should also have enough experience on the risk management in forex trading.
When should you start using the live account to trade?
- Thread starter Potuse
- Start date
you should only use live account when you are comfortable to trade and when you are very confident of your trading skill as a person, that is when you should use your live account.
You may think about moving to live trading once you are confident in your abilities, have a trading strategy established, and are regularly adhering to sound risk management guidelines. Real-world trading will present a new set of emotions and mental challenges.
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The live account should be used after a series of practices on a demo account, using virtual funds and perfected by making constant or steady amounts of income which should show at least ninety percent success rate in earnings on the demo account before moving on to live account.
This should be when you have used the demo trading to perfect your skills first, then you can switch on to the live trading. This will help you to reduce unnecessary losses.
You need to be very conversant with the demo account before you switch over to live trading account and also you need to be profitable in your demo account before trading live.
You need to be very conversant with the demo account before you switch over to live trading account and also you need to be profitable in your demo account before trading live.
You need to be very conversant with the demo account before you switch over to live trading account and also you need to be profitable in your demo account before trading live.
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A beginner forex trader should start using live account once he or she confident about the knowledge he or she has acquired. The purpose of demo account is to help beginner practice what they have learned as practice make perfection. The moment you feel your trading skill has improved, you can start using live account to trade.
The Live account must be used to trade at every point in time when you have gotten enough experience on how to explore the forex market.
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