How far you trade is not the major reason why you are trading demo, but rather, it is how well you trade that matters most.
Most times you feel very bad, because you think you are spending much time learning demo trading than you should.
But have you sat down to ask yourself why it is so? What are those things slowing your learning down?
If you can sincerely answer this, you would have observed that there are really some personal developments-contributing to your slowdown.
Researched has proven that it takes many years to really master proficiency in trading.
The more you trade, the more you add to your experience. But if you keep trading demo to fully master forex trading, you could spend your exotic years practicing it and still not trade 100% perfect.
It is best you understand that the forex-market is full of uncertainties. Below are tips on how to speed up your demo learning periods?
First, you have to trade demo as real account. This process has proven to have the potentials of speeding up your practicing periods.
You invested in demo account with virtual money and that alone is enough-not to make you conscious of your actions. Your mind will keep saying, anyway it’s just a virtual investment, if it blew up, I’ll invest another.
That is the reason why you don’t really take it serious. But the moment you start trading your demo as real, you will discover that your approach to trading has changed.
Because your demo trading formula has practically changed and also signifies that your mindset is no longer thinking of your account as demo but as real.
Secondly you have to adopt an effective practice method. Yes, you now have a little knowledge about trading, but do you know that such knowledge is ineffective if you didn’t practice well?
If you really want to hasten your learning on demo trading, then you must be willing to practice.
I recently interviewed an expert and questioned him about ‘’investors willingness to practice’’—he said, ‘’Many forex investors especially the newbie’s are interested in making attractive money but they are not willing to practice’’.
This is the problem; you want to make the real money out of trading, but you are not willing to make the sacrifice.
How do I achieve this speed?
The answer is not as easy as it sound, It’s simply ‘’deliberate practice’’. If you are willing to deliberately practice demo trading, you’ll definitely see the full effect. In other words, you can understand forex trading in a reasonable space of time.
Note: don’t be deceived by some sweet mouthed marketers, who delight in telling you that you can learn and start trading in two weeks.
I’ll advise you run from such people. They are nothing but deceivers.
Practice they say makes perfect, and in the forex industry you need a lot of practice to establish your base as a forex trader. Therefore, I advise that you take demo practice very seriously.
Next is Developing and testing of your trading plans. Let me tell you, you want to make money through trading right? Then you need to develop your own trading plan.
You alone know yourself better, which is why you have to develop your T plan yourself. Also there is no crime in learning from proficient traders. (Read more on how to develop an effective trading plan)
It doesn’t stop here; you also need to test and test and test until you achieve a result that has convinced you that your plan can be trusted.
Also, note that your Developed trading plan can be the best for now, but not the best forever, in other word, don’t think of your trading plan as a perfect kind.
The market itself is full of surprises. The market might agree with your plan now and might later disagree with it.
That doesn’t mean that you developed the wrong T.plan, or mean that you are not capable; rather it means that you should continually test and alter them when necessary. That moment of alteration, is when your Trading plan starts giving you a funny result.
And finally Discipline is another factor that is capable of speeding up your learning. It is a war yet to be defeated by some traders. If you lack discipline, I’ll advise that you work on your trading discipline.
It subjects you to action and makes you to do things you set out to do.
If you ignore this, you might not be able to make impactful progress and without progress, you can’t really ascertain when to stop demo trading.
But the moment you discipline yourself to action, you’ll gradually start seeing result. So, if you adopt a good disciplinary system, you tend to boost your speed learning.
Conclusion: we’ve discuss above on how to speed up your learning time as a forex investor. Be conscious of your every move, don’t make rash decisions. Always trade responsibly.