Making the move from Paper Trading to Real currency trading

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Assuming that you’re feeling you’re prepared to delve into the currency market, take a step backwards right now and think this thru totally : have you got all the knowledge 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 3 of the questions that we just posed, then you probably are ready to start trading in reality. 

However although you’ve taken every preparatory step possible, the reality is that there’s more to come and the real learning process begins from the moment you make your first trade onwards. 

For one thing, you’re now basically 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 really going to be risking something of value to you, and you’re sure to probably feel a little apprehensive. 

Honestly speaking, feeling apprehensive isn’t bad, as long as you don’t 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 did not wish to take a chance on, then you are going to end up having plenty of regrets. 

Also, now that you are really trading cash of your own, when you do make a loss the disappointment factor is also going to be amplified tenfold.  Once more, frustration in itself isn’t a bad thing, and can often help you to make sure that you are not making the same mistake twice. 

However if you let every loss that you make get to you, you can quickly find that you are at your wits end and everything that seemed to be so straightforward 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 currency trading are two different ball games.  Sure, paper trading is a vital preparation in terms of 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 deal. 

But because you have gone through that simulation, you must have the talents you need right there with you, and the single thing that’s standing in your way is getting used to the feelings and pitfalls that come as part and parcel of trading in reality. 

Trust yourself and the experience that you’ve built up while you were paper trading.  Imagine as though you were still doing that, and remember how successful you were at it.  Then, try your best to copy exactly what you were doing formerly. 

Sure, you might still fail here and there, but in the long run the actual mechanisms of the trades are no different, and so, sooner or later, you’ll find yourself beginning 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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