Making the transition from Paper Trading to Real forex trading

Posted on December 1, 2009
Filed Under Day Online Trading, Forex | Leave a Comment

Assuming that you feel you are prepared to delve into the forex market, take a step backwards now and think this thru totally : have you got all the certainty that you need? Have you got all of the tools that you need? Have you at least gathered some experience with paper trading?

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

However although you have taken each preparatory step possible, the truth is that there is more to come and the genuine learning process begins from the moment you make your first trade onwards.

For one thing, you’re now really dealing with real cash. Your money. And that’s going to prove to feel different from back when you were just making paper trades with virtual money. Now you are truly going to be risking something of value to you, and you’re sure to probably feel a touch nervous.

Overtly speaking, feeling apprehensive isn’t bad, as long as you be careful not to let it hamper your decision-making process. If your apprehensiveness just makes you extra-careful, that’s’s fine. But if you find that you are ‘chickening out’ of making trades that you knew were good but failed to need to take a risk on, then you are going to end up having a lot of regrets.

Also, now that you’re essentially 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 usually help you to ensure that you’re not making the same mistake twice.

However if you let each loss that you make get to you, you’ll quickly find that you are at your wits end and everything that appeared to be so simple while you were paper trading all of a sudden winds up feeling that much more difficult.

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

But because you’ve gone thru that simulation, you should have the abilities that you need right there with you, and the one thing that is standing in your way is becoming familiar with the feelings 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 match exactly what you were doing previously.

Sure, you may still fail here and there, but in the long run the particular mechanisms of the trades are no different, and so, earlier or later, you’ll find yourself starting 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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