Street Smart Forex Trading Tip #1 - Are you a “Demo Millionaire?”

Over the past 8 years I’ve worked with well over 11,000 traders and I’ve learned a ton from them.

I’ve also seen a lot of common stumbling blocks happening over and over again that prevent even the most well intentioned traders from ever making even one dollar.

Let me share one road block in particular that turns into their downfall…

It’s quite simply that they never get into the game and take real money live trades!  I’ve known quite a lot of traders who’ve have spent 1, 2 and even 3 years demo trading and still scared sh*tless about taking a real trade.  What I’ve noticed is they seem to have 2 common factors…

They always have an excuse to why they’re not ready and they keep buying system after system hoping to “Crack The Code” so that they rarely suffer a loss. YOU MUST GET THIS THOUGH YOUR HEAD!!!

Unlike something like learning a musical instrument, where if you practice enough you can play the entire piece of music without a mistake…

In forex trading or in the trading of any market…

You Can’t Practice Your Way To Perfection!

The reason is simply due to the fact the market is constantly changing due to fear, greed and fast breaking international events. Since we can never know what the market will do from moment to moment we can only react to the hand that is dealt to us.

And the only way you will master the markets is by taking off your training wheels and putting some money on the line.

Don’t get me wrong, demo trading has it’s place, but it should only be for a short period of time and the minute you think it has some potential you should at least place trades with micro lots.

Another reason you want to get out of demo mode is because there are a lot of “Demo Millionaires” who trade brilliantly and yet the minute they get to real money trading they fall apart.

I hope this gives you some food for thought that will take your trading to the next level.

-Jeff Wilde

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