Dear FX Top Gun, “Look before you leap, boy – it’ll save ya a load’a pain” “You are what you eat, sonny… so quit shovin’ them Twinkies in!” “If ya ain’t got somethin’ good to say, don’t say anythin’ at all... so, why is your mouth still movin’ boy?!” Well, just some of the wisdom from a generation that was a heckuva lot smarter than some of us seem to be today. But, there is one old saying that many of us have lived by for year that is bad news when it comes to Forex trading. You recognize it -- it goes like this… “Practice Makes Perfect.” I’m sure that in most cases, that is true, but you’ll want to avoid “practicing” in the Forex world… unless you’re doing it the right way. Let me explain… One of the first things you’ll see when you start looking around the internet for info on Forex are demo accounts. Just about everyone, everywhere is offering a demo account. There are two things that I want to point out… - Most of the companies offering demo accounts have “dealing desks” – that’s a sure sign that something is up. (To see my beef with dealing desks, check out Secret #4) It’s the good, old-fashion puppy-dog close… get ‘em using the account and, after a while, they’re hooked. Unfortunately, the firms offering the best looking, slickest demo accounts aren’t necessarily offering the best services or information on the Forex market.
- You’ll notice that I don’t offer – or promote – demo accounts on my site, www.fxnationlive.com
I bet you’re wondering why I don’t. Here’s why… Demo trading may be good for learning how to place orders and getting to know some of the mechanics of the platform, but nothing replaces the emotions of trading with real money. Those emotions – the raw passion of watching real dollars and cents move in and out of your account – can be the making or breaking of your Forex trading. I suggest you get used to feeling – and most importantly – overcoming those emotions as quickly as possible. A Demo Strategy Is NOT A Real Strategy I have seen far too many traders THINK they have a profitable strategy on a demo… and then they lose everything once they start trading with real money. It is always the emotions that kill them. At the first sign of profit, or loss, they jump in and start changing things. And that is where they lose it. To avoid that pitfall, it is essential that you start with only risk capital. This should be funds that represent 5-10% of your total available capital and funds that you are OK with losing. Doing this will get you used to the emotional swells of being in the “trading room” and allow you to steel yourself against those emotions. So, I guess Granny was right after all… practice does make perfect… but only if you jump in with real money. “Look Before You Leap”
Now, does that mean that you should jump in blind? No, remember the other saying, “Look before you leap”? In the Forex market this means that you should get a solid, bulletproof strategy put together and have access to the top players in the market. Lucky for you, I’ve made it VERY easy to get the most profitable strategy and have unlimited access to the most profitable and powerful FX traders in the world. Of course, as an FX Nation Live member, you have all of that and so much more. The site is packed full of access to the world’s most exclusive and potentially profitable FX trading tools. So, buzz around, read up, dig in… and make the jump.
Here’s To Your FX Trading Success, 
DC Bonta, The world’s #1 FX money manager 
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Editor’s Note: DC Bonta – Also Known As “The Shark” for his legendary returns and profit producing strategies shares his exclusive insights in a new, downloadable training series called Institutional Forex System II. For more details click here now.
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