I had this terrible disease, so I can understand how hard it is to fight this tendency. When I was seeking a way to win in the market, I would learn of a new technique and be so excited that I would come home and immediately start trading heavily with real money in live trading action. Unfortunately for me, I was making a lot of money in my business, so losses were not a worry of mine. I just wrote them off flippantly as the cost of learning. That was bad erroneous thinking on my part.
Instead of taking it slow and checking out the method on a demo to really prove its legitimacy, I was to eager, too anxious, and too impatient to do what I now know would have been the smart course of action. I should have checked it out on a demo account first. But I did not do that. I was so confident, so anxious, and so excited that I would check it would with real money trading. I just wish I had all the money I have lost to learn what I am trying to teach you here. This advice may save you many multiples of the low cost of my training course.
Check everything you are told out on a demo account. Check out what I teach you on a demo account. Prove to yourself that what I am teaching you works, or what anyone else is telling you work. Don’t blindly take my word for it or anyone else’s. That is exactly why I recommend to each students homework study and research. I send every student back into the charts to check out what I have been teaching. If when you are search back through the charts that the signals I am teaching you do make money and win they you will gian confidence in me as your teacher and in the value of the signals I am teaching you.
Some doubting Thomas’s may still be doubters and say that it is harder to see the signals in real time because the candles are changing all the time. That is true. The candles are changing all the time, but the candles we are viewing are not. Our signal candle is fixed, done, finished, and cast in stone. The entry candle is not finished, but we wait until it has confirmed the trade and that fact can not be undone. There will always be a record, proof so to speak, that the trade did confirm and trigger. It can not be erased. It is a record on the tape and can not be erased. Might the trade reverse and cause a loss. Of course, and there will be a record of that as well. We are not trying to fool or trick or deceive anyone. The record of the signals are there for all the world to see forever. They can not be changed.
Check it out with play money but treat that play money like it was real money. Here is the truth no one wants to hear and few will honestly tell you.
IF YOU CAN’T MAKE CONSISTENT MONEY TRADING A DEMO ACCOUNT, YOU ARE TRICKING YOURSELF TO THINK YOU WILL DO BETTER IN A LIVE MONEY ACCOUNT
IF YOU HAVE FOUND SOMETHING THAT IS REALLY GOOD, THEN IT WILL STAND THE TEST OF TIME FOR YOU TO CHECK IT OUT ON A DEMO ACCOUNT. IF IT DOESN’T MAKE YOU MONEY IN A DEMO ACCOUNT, IT CERTAINLY WON’T WHEN YOU ARE UNDER THE FEAR AND PRESSURE OF LOSING REAL MONEY IN LIVE TIME.
We are so fortunate these days to be able to “test drive” any new idea or trading signal in demo time rather than live real money time. I wish we could do this in all of life. Test out a car before we buy it. Test out a job before we find out we hate the job or the boss. Test out a vacuum sweeper before we find its power is not sufficient to really clean our carpet. There are so many situations in life where a trial or pre test would be so great.
We buy insurance policies and hold them for years only too often to find that the company was not solid, or the fine print excludes our payment, or that it pays far less than we thought because of exclusions and trickery with the calculations.
Maybe it would be good to even have a “trail marriage” to see if two people are really compatible. Boy, I’ll bet that idea meets some resistance. But stop and think about all the children of divorced couples who found after they had children that they just were not compatible and able to live together? Do two people really know each other well enough when they get married to know that the relationship will work for the 25 years it takes to raise the children?
Well we as traders can know. We can use a demo account and know without any doubt that what we are trading works. If a signal is good, or a trading technique works, then it will work in a demo account.
There is no trickery with a demo account. You might buy computer games for blackjack or slot machines that let you win and win all the time. Those are games. The demo platforms at the Brokerages are using live data, exactly the same data you will be trading with later with real money.
Monument Investment Group, (Lamar’s) GUARANTEE: IF YOU CANNOT MAKE CONSISTENT PROFITS WITH A DEMO ACCOUNT, I CAN ALMOST CERTAINLY GUARANTEE YOU WILL LOSE WITH A LIVE TRADING ACCOUNT.