Forex traders are recommended to try out demo trading before they actually start forex live trading. Demo accounts are freely provided by all forex brokers active in the industry. These are accounts that only carry virtual money but still provide a real forex environment to the trader.
Thus, these accounts are recommended because it is believed that they will allow traders to get a sense of what it feels like to trade forex. However, while they do help, they are often overrated by forex teachers and brokers.
The biggest strength of demo accounts is also their biggest weakness i.e. virtual money. While virtual money allows traders to freely learn about forex trading, they also prevent them from experiencing the kind of emotions that the forex market can generate.
Effectively, when new forex traders graduate from a demo account to a forex live account, the immediate rush of emotions that they feel makes them freeze. In other words, their emotions make them hesitate when it comes to placing trades in the forex live market.
Your Problems with Hesitation
If you have recently graduated from your demo account to a forex live account as well then it is likely that you are already well aware of this hesitation. There can be many reasons why you are hesitating in your forex live account, but all of them are connected to your emotions.
For instance, your fear of losing your money could be holding you back, your lack of experience with your strategy could be making you unsure, you may lack confidence to take risks, or you may be under a lot of stress because you are investing too much of your money.
Believing in Yourself
The first step to move beyond this hesitation is for you to start believing in yourself and your abilities. Sometimes, this is easier said than done but it is still important. You can use various ways to believe in yourself, ranging from positive reinforcement techniques to even asking your loved ones for help.
An attitude change is also necessary to stop being hesitant with your forex live account. You need to change your attitude and start looking forward as opposed to looking behind.
Many traders make the mistake of looking at forex signals in the past to determine which ones they should have gone for and which ones they should have left alone. Unfortunately, this practise will only hold you back which is why you need to look towards future forex live signals.
Tackle Your Concerns Head-on
At the end of the day, the only reason why you are hesitating with your forex live signals is that you have some concerns. These concerns need to be dealt with before you can leave your hesitation behind.
The best way to deal with these concerns and fears is for you to tackle them head-on. The sooner you do this, the easier it will be to make a career in forex live trading.