Teach Me to Trade Without the Risks

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Is there this spectacular place that you can trade, learn and be foolish like a new trader without all the risks? When I say risks, what I am basically saying is that you do not lose money, money that can be used to put food on the table and take care of your daily expenses. Old problems were that new traders had no choice. They took the lip service from seasoned traders and their brokers and just ran with it and more often than not, they ended up with no money, zero confidence and a burning hatred for investing. Teach me to trade will now look at the magic formula called the demo account, which is a feature of things like currency, futures, stock market.

One thing you should know is that you need the demo account. In fact, if you do decide to start from scratch and just go live, I would advise you to also charge into war, wearing nothing more than a bucket. It just gets me how new traders are simply sapped into the literature of being a millionaire by just hopping on board with some company that has the expertise to turn you so rich, you would simply be coughing gold. If that was the case, Monte Carlo would be crowded, and Paris would be pushing millionaires out of their borders.

So wake up and smell the coffee, and once you have drink it. Because you are going to need all the energy you need to ensure that you get into the market and trade with success. But you need to enter a virtual environment where you would be able to get a feel for the market and the trading mechanisms that rule it. This way, you will find yourself in a better position if you had just started blind. It is a simple fact. If you knew the water was cold, even if you were wearing paper underwear, you would at least be better prepared to take on the shock. But if some guy in a suit told you the water was at a temperature so perfect, it would be like jumping into a magic pool of fairy liquid, then the shock you would get would send you spluttering and you would literally drown from the cold. So, there is no such thing as a good thing.

You need to walk in the product space. You need to get the gritty feel of the market you have chosen, and by jiminy, we all hope that you have chosen the right market. Each market is different, and if you can, sign up for all the trading courses, virtual accounts, online virtual trading games that you can. I would advise you to take a month or two to do this, and get really prepared for the market. This way, you will not be cannon fodder. You will not be shark bait. You will be a trader prepared for the intricacies of the market and better prepared to profit from it.

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Source by Eric W. Childers