Making the change from Paper Trading to Real currency trading

Assuming that you are feeling you’re ready to delve into the foreign exchange market, take a step backwards now and think this thru fully : have you got all the certainty that you need?  Do you have all of the tools that you need?  Have you at least gathered some experience with paper trading? 

If you answered ‘yes’ to all 3 of the questions that we just posed, then you almost certainly are prepared to start trading for real . 

However even though you’ve taken each preparatory step possible, the truth is that there is more to come and the real educational process starts from the instant you make your first trade onwards. 

For one thing, you are now basically working with real money.  Your money.  And that is going to prove to feel different from back when you were just making paper trades with virtual money.  Now you are really going to be hazarding something valuable to you, and you’re sure to probably feel a little nervous. 

Honestly talking, feeling apprehensive isn’t bad, so long as you avoid letting it hamper your decision making process.  If your apprehensiveness just makes you extra-careful, that is’s fine.  But if you find that you are ‘chickening out’ of making trades that you knew were good but did not want to take a gamble on, then you are going to end up having lots of regrets. 

Also, now that you are really trading cash of your own, when you do make a loss the disappointment factor is also going to be amplified tenfold.  Once again, disappointment in itself isn’t a bad thing, and can even help you to make sure that you don’t make the same mistake twice. 

However if you let every loss that you make get to you, you will quickly find that you’re at your wits end and everything that appeared to be so straightforward while you were paper trading suddenly winds up feeling that much more complicated. 

All said and done, the core point that we are driving at is this : Paper trading and real foreign exchange trading are two different ball games.  Sure, paper trading is an important preparation re the talents that you require to play the foreign exchange market, but it is still just like a simulation, and doesn’t compare to the real thing. 

But because you have gone thru that simulation, you should have the abilities that you need right there with you, and the only thing that is standing in your way is getting comfortable with the emotions and pitfalls that come as part and parcel of trading for real . 

Trust yourself and the experience that you have built up while you were paper trading.  Imagine like you were still doing that, and remember how successful you were at it.  Then, try your best to copy exactly what you were doing formerly. 

Sure, you may still fail here and there, but in the longer term the actual mechanisms of the trades are no different, and so, earlier or later, you’ll find yourself beginning to profit just like you did in the paper trading run. 

Once you’ve accomplished that, you would have successfully made the transition!

 

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