Making the change from Paper Trading to Real forex trading

Assuming that you are feeling you are prepared to delve into the forex market, take a step backwards at the moment and think this thru totally : do you have all the knowledge that you need? Do you have all 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 ready to start trading in reality.

However even though you have taken each preparatory step possible, the reality is that there’s more to come and the real training process begins from the instant you make your first trade onwards.

For one thing, you are now actually working with real money. 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 hazarding something valuable to you, and you’re bound to probably feel a little apprehensive.

Frankly talking, feeling apprehensive isn’t bad, so 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’re ‘chickening out’ of making trades that you knew were good but didn’t wish to take a gamble 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 more, disappointment in itself isn’t a bad thing, and can often 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’re at your wits end and everything that seemed to be so straightforward while you were paper trading suddenly winds up feeling that much more complicated.

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 vital preparation vis the skills that you require to play the foreign exchange market, but it is still just like a simulation, and doesn’t compare to the real thing.

But because you have gone thru that simulation, you need to have the skills that you need right there with you, and the single thing that is standing in your way is becoming familiar with the emotions 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 as if you were still doing that, and remember how successful you were at it. Then, try your best to emulate exactly what you were doing previously.

Sure, you could still fail here and there, but in the long term the mechanisms of the trades are no different, and so, sooner or later, you will find yourself beginning to profit just like you probably did in the paper trading run.

Once you’ve accomplished that, you would have successfully made the transition!

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