Episode 70: Demo Trading Is Not Killing You

by robbooker on August 8, 2012

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In this episode Rob Booker addresses a blog post on Forex Crunch.com written by Matthew Carstens, the founder of Rogue Red and the creator of TradingWheels. The article is titled 3 Reasons Why Demo Trading Is Killing You. Read it over if you get a chance, Traders, in preparation for this episode. Rob disagrees with the premise of Matthew’s article. He responds to each of Matthew’s 3 reasons with rebuttals, while including a few Olympian metaphors along the way.

So, don’t miss this episode, and in the meantime, we’ll try to line up a follow-up interview with Matthew Carstens himself for our next episode to give Matthew a chance to respond to Rob’s critiques of the article.

Links for this episode:

Article: 3 Reasons Why Demo Trading Is Killing You

Matthew Carstens’s links:
About.Me
TradingWheels
TradingWheels on Facebook
@TradingWheels

Forex Crunch.com

The Edge Trading Video Series

{ 3 comments… read them below or add one }

Bruce August 8, 2012 at 11:57 pm

Thanxs again Rob for validating me! Wow. I have spent probably 2000 hrs trading a demo before jumping in with $500! And I was ready! I made good pips! averaged 30 / day! I figured when I had enough cash to play a full contract…30 pips / day would be just fine! I made profits and every week I added more coin to my account and it wasnt long and I was trading a full contract. But a funny thing happened. My average went up to 45 pips / day. Amazing! I wasn’t even trying to up my average. It just happened because I got comfortable with my “self” and my abilities. As I mentioned in my comments from episode 69, I white knuckled all my trades in the demo. I forced myself to take it all seriously…every trade. And if I had a hint I wasn’t true to that….I stayed flat till the feeling of “importance” came back to me. Thank you for taking the time to make the podcasts. Thank you for helping Me.

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TG April 18, 2013 at 1:37 pm

I just left you an iTunes review 🙂

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marius April 25, 2013 at 1:57 pm

Right on! When you are trading you are in fact trading against the best in the world. no wonder why people lose money in the market. would someone who have never done boxing expect to win a boxing match against Mike Tyson?

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