If you have these 7 signs, you are ready to start a live forex trading today! 

Forex trading is a profitable, financial journey. It comes with beneficial rewards when you have the right strategies. 

Before you start a live forex trading account, there are 7 powerful signs you must possess. 

This article reveals the power signs and how to start a live forex trading account today with ease. 

1. You’re making a consistent profit on your demo trading account 

In the forex market, it is okay to lose and win. Every day might not be a profitable day. But when you notice that you consistently earn profits in your demo trading account, it gives a sign that you can win more than you lose in your live account. 

So don’t be scared of starting. Take the chance and win. 

2. You trust your trading platform and your broker

There are several trading platforms and brokers in the forex world. If you’ve gotten a broker and their demo account that you are constantly trading with, it is important they are reliable. The reason is because you’ll be investing your money in the live account. 

Do not only understand the basic features of their platform. Know them in and out. Once you trust your broker and the trading platform, you can begin a live account. 

Don’t know whose trading platform or broker to trust? Register with us today!

3. You have a trading plan

In your demo trading account, you ought to have a trading plan that guides you to yield positive results when trading. During this stage, you’re learning from your challenges, mistakes and wins. Through this, you know how to tweak your plan based on experiences from the past. When you notice you have a strong trading plan, it’s already a sign that you are mature enough to start a live trading account. Go ahead and don’t stop. 

4. You can manage risk 

Risk management is one of the key attributes that indicate who is a successful forex trader. Forex trading is not just about making a profit. It is also about knowing how to reduce your losses. You might be tempted to trade with all your funds. 

When you observe that you enjoy trading with all funds on your demo account, take a step back. Make sure to know the right time to log off, to start and to continue. Once you have a clear understanding of how to manage risk, you are good to go in the live trading account. 

5. You can control your emotions

Do you still panic when you lose money while trading in your demo account? If yes, then you need to wait some more to see that you’ve outgrown that stage. 

Emotional intelligence is another key attribute of a live forex trader. There are times the forex market might be tough. It might make you doubt yourself, your skills and possibly ruin your day. This is why it is important to control your emotions when handling a live forex trading account. 

You should also be able to study the market with the three fundamental analysis skills — check them here.

6. You have the right capital to start with 

As it’s been mentioned in our previous blog post – What is Forex Trading and How Does It Work?, you can start with as little as $5. If you can afford $5 or more, you can open a live forex trading and get started now.

7. You’ve traded in different forex markets

Before you start a live trading account, it is safer to experience different market methods. You’ll be able to familiarize yourself with the diverse markets and how they work. This will help you avoid losing money or giving up on trading when you try to switch your market method. If you’ve been able to do that, you can begin your trading with a live account.

Let’s talk about how you can maintain your live trading account when you eventually start.

How to maintain a Live Trading Account 

I know you will be pumped up once you begin your live trading account. But there are certain things you must consider to avoid making mistakes as a beginner. 

1. Stick to your trading plan
2. Don’t change brokers or trading platforms too frequently 
3. Always analyze the market to manage risk
4. Learn to constantly control your emotions 
5. Be ready to win on some days and lose on other days

At Elevator Trading Academy, we offer free Forex training courses and VVIP mentorship to help you win in the live trading market. 

We are ready to partner with you to make your desired money as a forex trader.

Enroll for our VVIP mentorship for group or one-on-one coaching now! 

You’ll learn the UNTOLD secrets and strategies David Achom and his students used to generate millions of dollars in revenue. 

Click on this VVIP mentorship and choose a mentorship plan to start now.

You’re one step away!