Tuesday, October 15, 2013

Caution: Forex Demo Accounts

Having a small brake from trading is always a requirement in my opinion and no professional trader is glued to a dozen trading screens 24/5. We let the amateurs think that is how to trade while we know what it takes and how to get what we want. That holds true with just about every aspect of trading; us professionals do things the masses are terrified of which explains why the masses are always left holding the bag as we profit week in and week out.

One of the biggest and most compelling pieces of evidence are forex demo accounts. All newbies swear by it and who will read idiotic statements that it is a requirement as you learn how to trade. It is absolute non-sense. Professionals have never used a demo account and understood why it is nothing more than a newbie myth.

Check out this great infographic, courtesy of PaxForex

You are free to form your own opinion on this matter, just know that your popular point of view will get you where the rest as well as majority have ended up at; one or multiple blown accounts which led to frustration and total loss of capital which eventually forced an exit of trading altogether.

Do you want to do what is popular or do you want to learn how to profit?


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