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Making the change from Paper Trading to Real forex trading

Assuming that you are feeling you’re prepared to delve into the forex market, take a step back at the moment and think this through completely : have you got all the knowledge that you need?  Do you have all of 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 for real.

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

For one thing, you are now essentially dealing with real money.  Your cash.  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 slightly nervous.

Frankly speaking, feeling apprehensive isn’t bad, so long as you be sure 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 finish up having a lot of regrets.

Also, now that you are actually 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 don’t make the same mistake twice.

However if you let every loss that you make get to you, you’ll quickly find that you are at your wits end and everything that appeared to be so easy while you were paper trading suddenly winds up feeling that much more difficult.

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All claimed and done, the core point that we’re driving at is this : Paper trading and real foreign exchange trading are 2 different ball games.  Sure, paper trading is an important preparation re the skills that you require to play the currency market, but it is still just like a simulation, and doesn’t compare to the real thing.

But because you’ve gone thru that simulation, you must have the abilities you need right there with you, and the single thing that’s standing in your way is getting used to the feelings and problems 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 emulate exactly what you were doing previously.

Sure, you might still fail here and there, but in the longer term the actual 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 have accomplished that, you would have successfully made the transition!

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