Originally Posted by
rebate lover
A newbie needs to train his trading psychology if he wishes to stay long and succeed in the forex market. The first way to do this is to win consistently on a demo account, this way you already have a winning mentality as a beginner. The next thing to do is to invest a little amount of funds in a cents account. This way the money is not too important, but you have the feel of trading live because you make real profits that you can withdraw. When the trader has been withdrawing real profits he is encouraged to invest more funds in a standard account. At this point, his trading psychology is able to handle floating minus positions.