Trading A Demo Account!
When I began learning how to trade, I started trading a live account way too early because I had the mentality that I was going to make loads of money in no time. However, few months in succession I was losing money. Everything was just becoming sour in my trading.
Out of frustration and some degree of anger, I started looking for 100% winning strategies, perfect indicators and all sorts of trading systems that I thought would make me the next big forex trader. None of these efforts worked because I kept on losing heavy in the markets. One day when I was watching forex videos on YouTube I heard one trader saying: Before you can trade a live account, especially if you’re a beginner, you should trade a demo account for at least six months profitably.
When I heard that, I froze a bit. I thought to myself “Six months? That’s too long!” “I can never leave real money this side and go to the fake money that side”. “That’s just impossible”. I hardened my heart and never went to a demo account because ‘hey’ I thought I can make it to the top just like that.
Something that brainwashed me is that I was drawing all my inspiration from ‘social media traders’ and not a professional trader or professional trading course. I used to see people post their screenshots with their trading profits every single week and no losses at all. This channeled me to think I can make money at all times with no losses. I did not realize that everyone on social media is a “successful trader” who is making millions. Not everyone posts their real losses. Traders want to be seen as gurus. Unfortunately, that’s how it is.
I can never lie, I fell victim to all of this. I thought a demo account was just a waste of time. My mental approach to trading was all wrong and I never took the time to learn first how to trade properly so that I am able to make all that money that “social media traders” are faking. I guess these traders are on a “fake it, till you make it” mission. Lol.
I do not want to make this blog any longer. I was just sharing the dark side of things and laying the foundation for the next blog which is “Trading A Demo Account Part 2” where I get straight into the significance of trading a demo account before going live and how it has changed my trading for the better.
If you liked this blog, please share your thoughts below. I would like to hear about your experiences when it comes to trading a demo account.
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Cheers!
