Friday, October 21, 2011

Planning out the Demo Trading in the Forex

"Its about time!"
Tychus, Starcraft II

EDIT: At the time this blog entry was posted I had a Youtube video here. That has been removed but I want the rest of my content to be remain. Nothing hidden no past mistakes ignored. All out in the open.

I've fought against trading platforms that I did not like and tried to trade on them. They are a big distraction emotionally at least for me. By itself its no big deal and for the seasoned professional who has thousands of hours of experience in trading its probably no big deal. But for the new person trying to learn and you are using software you do not like, with some background music, with dual monitors and you are doing something else on the other monitor, and kids or a spouse making noise in another room... it can all add up to too much distraction and you lose focus.

Think to when you first started your current job. Were you able to multitask on day one with your job duties or did you need to really focus in on what the heck was going on. Its often said trading is a business, a job, and should be treated like one.

Another consideration to why you need to be comfortable with your trading platform software... you are potentially going to be using it every day for years. You better be comfortable and happy with it for that sort of commitment. There can be enough stress with losses to not have to deal with software problems. Especially in the early stages of learning if we get too frustrated or have too many problems we run the risk of throwing our hands in the air and giving up to look for something else to try. At that point was the problem with trading or the problem with us? If it is with us won't those same problems follow us to our next money making idea?

Disclaimer: The investments and trades in my videos and blog entries are not recommendations for others.
I am not a financial planner, financial advisor, accountant, or tax adviser. The financial actions I talk about are for my own portfolio and money and only suited for my own risk tolerance, strategy, and ideas. Copying another person's financial moves can lead to large losses. Each person needs to do their due diligence in researching and planning their own actions in the financial markets.


  1. I'm looking forward to what you share on this. One thing is for sure, I believe you are looking at the sim in the right way, that is to say, treating it as close to real as possible. I heard Dan talk about the difference between real and simulated, but personally, I'm still quite forlorn after a loss. I'm going to host a vid from informed trades on Monday's post that gets into a prop traders moving average algo.

  2. That's probably a good thing that you are treating it mentally as a real trade. It would probably be bad preparation wise if you didn't care about your demo numbers.
    I can't wait for that vid. Informed trades is a good site with good info.