There are a lot of wise words out there – don’t even think about it for 3 months, 6 months – well, most people’s patience doesn’t last that long.

If, and only if, you’ve put in the work to understand what’s going on with a practice account and you have that $250-500 that really can afford to kiss goodbye to, instantly if necessary, then go for it.

Don’t go in with the target of making serious money – go in with the attitude that it’s still practice – because making profits and losses with real money requires practice in itself. How are you going to react? Is a relatively big win make you go a bit silly and think you know it all – is a relatively big loss going to make you suddenly lose all confidence and give up on the game?

Let the market go up and down but keep yourself level…

And steer clear of the standard trap of a micro account – too much of your balance committed in trades and and too high a leverage. Few lots, carefully thought out.

An intermediate step
Go in with the attitude that this is an intermediate trial – you’re testing the principles, your ’system’ if you’ve got as far as setting down a set of rough rules, your ability to read a chart sensibly and with some likelihood of future accuracy. You’re learning about yourself here.

You’ll also be spending this time learning more about the platform you’ve chosen – at a time when it’s not quite so critical – because there are things about every broker that are only revealed in the real account…

One Response to “When to go from practice to a real Forex account?”

1. When to go from practice to a real Forex account? says:

   October 20, 2008 at 7:21 am

   [...] Original post by ForexPerform [...]

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