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For this continuation from our previous episode, when Rob Booker critiqued Matthew Carstens’s article, 3 Reasons Why Demo Trading Is Killing You, The Traders Podcast invited Matthew (the founder of Rogue Red and the creator of TradingWheels) to appear as our guest, and he courageously agreed.
Rob discusses the war between demo trading and live trading, suggesting that this controversy continues at every expo, conference, webinar and online forum, where demo traders are criticized because of the lack of emotion in demo trading, while live traders are criticized for trading with real money before they’re ready!
So, in Episode 71, Matthew talks about a bridge that can bring those two sides together. Is there a way to do both? Is there an answer to this dilemma? Matthew Carstens thinks so… Tune in and found out why!
UPDATE FOR THIS EPISODE: Matthew wrote to let us know that his product is now live and has launched with GAIN Capital. Congrats, Matthew. Thanks for letting us know.
Links for this episode:
Article: 3 Reasons Why Demo Trading Is Killing You
Matthew Carstens’s links:
About.Me
TradingWheels
TradingWheels on Facebook
@TradingWheels
Tagged as: currency trading, demo trading, episode 71, forex, live trading, matthew carstens, professional trader, rob booker, the traders podcast, trading career, trading for a living, trading from home, trading method, trading strategies, trading strategy, trading success, trading wheels
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Hey Rob,
I’ve figured out how to put the emotion (i.e. terror) into trading with a demo account! At the end of the week, if I’ve lost money, I have to pay out to my wife 10 cents on the dollar any amount I’ve lost. So, if I lose $400 in my demo account, I have to pay her 40 bucks. Believe me, that is making me care about my trades!
Thanks for the great podcasts!
John
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