Introduction To Bitcoin

I have undergone training with a The Wall Street Lifestyle Review propriety trading house before and this is how they work. They get you for an interview, wanting to know more about your determination to succeed in the cut-throat world of trading. After you manage to convince them that you will stop at nothing to become the next George Soros and Steven Cohen, they will get you to participate in a simulated trading environment. You will also be given trading notes, not the types that already have formulas to profit $10,000 per month, but rather, the concepts and ideas on how traders should think and react in certain market scenarios.

Once you have qualified, they will get you down to their office and trade again in the simulated environment. During which, the prop shop will generate all kinds of statistics on your trading. Mine have only 1 key focus, which is to ensure that you do not have those one time off big losses. They are greatly concern with that, and lets face it, after 10 taxing trades of making $1000 each, the last thing you want would be a single big loss of $10,000 to wipe out all your (very) hard-earn profits.

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Despite the high entry barrier (I was amongst the 3 in a group of 50 that underwent the simulated trading environment), when I was trading in the house itself, you can still see the lack of seriousness in some of the applicants. Hack, one even left open orders on a few occasions that resulted in severe losses (paper wise). This highlighted the point that, when using a demo practice trading account, it is hard for anyone to take it as serious as a live account. One of a senior trader even said, "Having a personal live account is tough, just imagine when you are now trading other people's money and are made responsible for it".

In conclusion, a demo account may well be used as a testing platform with regards to your preference in the brokers' live account. I get put off even if a button seems awkwardly placed. Trading, like any skills in life, is best taught and learn in the harshest of environment, which is trading in the live market. The one thing that can never be taught is the control of emotion during your trading and this emotional control,