Many traders show great results on a demo account but fail when they start live trading. We made a full analysis of this problem and selected 4 crucial steps, which will help you switch to live account as comfortable as possible.

1) Trade Like it's real

When you know you are not trading with your real money, emotions are much less involved, and you can make all the possible mistakes. It is dangerous because everything you do on a demo account becomes your habit. When you open up a demo account, forget that it is a “demo” account.

Treat it as a live account with your real money in it. Enter the trade with a strategy, plan, risk management and etc. Your demo account's size and leverage should be exactly the same as your live account would be. Do not open a $50,000 demo account if you plan for a $1000 live account.

There’s plenty of verified profitable traders who make millions and willingly give pieces of advice to other traders. We gathered some of the best advice here for you to read.

#1

Know your risks before entering a trade. When you know the risks, you can size appropriately based off of your risk point so that losses won’t be too high if the trade goes wrong.

#2

Never think that it’s “Up too much” or “Can’t go lower” because it can. It is okay if the market makes a move that doesn’t make any sense. Don’t hold on to losers.

We all know what mistakes beginners make, but what about pro traders? Sometimes experience comes at a price, and even the most proficient traders can fall into a trap. We gathered some of the most common mistakes of pro traders.

#1 Overtrading

Some traders may trade too many positions at once, that exhausts available margin collateral, reducing cushion against adverse market movements. And also when you trade too often, you always have an open position and are constantly exposed to market risk. To avoid these mistakes, it’s better to focus on opportunities where you think you have an advantage and apply a disciplined trade strategy to them.