A Million Dollar Advice

When the human factor comes into play the strategies tend to go wrong. It involves passions and ability to stick to plan in order to be successful. Many forex traders end up loosing account because they keep reading different analysis after entering the market with trade and then keep changing their mind. Some of them even repent soon on their entry and cut the trade in loss. The confidence on their own analysis will not find place until unless they are ready to take the loss till their stop loss point and this is the key to success of their trades. A million dollar advice is that never start experimenting your EAs on real money. There are many brokers who offer demo account with virtual money. You trade with the virtual money in the real market conditions. This helps you to gain confidence and you can see the results of your applied strategies with the fear of loosing money. While you are in a trade, you will find many arguments supporting the both sides of trade. Remember this difference of opinion makes the market move to either direction. Just make your own analysis. And once made Just stick to the plan. Using the demo or practice accounts with virtual money is the best way to see how good you can analyse the market and apply a strategy. Happy Trading...