Making the transition from demo to real trading account

We all know the purpose of using a demo account. Thanks to modern technology we have the chance to learn trading without risking any real money. In the past, professionals didn’t have such an amazing way to learn to trade. Things have changed a lot over the years and people are making more money than ever. You can learn the basic art of trading with the help of a demo account. No real money with being at stake at the learning stage. But things are a little bit tricky. When you make the transition from the real account.

By considering the most common problems associated with such a transition, we are going to highlight some of the amazing things that will help us for a smooth transition. Let’s get into the details.

Find a good broker

The first thing that you should do is to find a good broker. Many people often ignore the importance of a quality platform for the demo account. But you can’t overlook the importance of elite brokers for trading with real money. You must find a great broker who will offer the best tools for trading. Without having premium trading tools, it’s really hard to make big gains. Being a currency trader, you must work hard and focus on the core factors of this market. Once you find a good broker, invest a small amount of money even if you have lots of confidence in your trading method. Never invest a big amount of money because it will make things worse.

Start trading with less than 1% risk

The majority of traders have a trading system that allows them to trade with more than 1% risk. Being a rookie, you should not trade with such an approach. Find a low leverage trading account and start taking the trades with less than 1% risk. You might think this will limit the profit potential at trading. But if this was true, no one at Saxo capital markets Singapore would have to follow such rules. The lower risk you take, the better transition you have. Taking a high risk at the starting will make things hard. In the demo account, you could have lost trades without having any issues. But in the real market, you will become emotionally frustrated with the losing trades and this will make you weak at trading. So, reduce the risk to 1% or less to make the process much easier.

Trade with a routine

During the transition to the real market, people often forget to follow the routine. They live in euphoria and think they can make millions within a short period. But if this was possible no one in this world would have lost money. Trading is all about finding the perfect trades in a balanced way. During the transition from the demo to the real account, you need to create a robust trading routine. In the routine, it should be clearly stated how many trades you will take per day. Those who are not following the routine during the transition phase become emotional and loses a big portion of the capital. But if you take the time to learn more about this market, you will slowly learn to boost up the profit factors at trading. This will help you to change your life.

Don’t forget to revise your trading strategy

After making the switch, you will feel that a certain portion of your trading system can be dramatically improved. This is fine and you should not worry about it. Revise your trading method so that you don’t have to lose too much money. During the revision, the period tries to simplify the things at trading so that you don’t trade under heavy stress. Once the revision process is complete, you will feel more confident in your trading system. So, revision should be done twice a year at least.