As with any new skill, we encourage our students to first practice in a safe environment. In the trading world, simulated platforms such as our proprietary trading simulator can help traders practice new strategies and perfect them before trading with live account.
Once you’ve taken the necessary steps to educate yourself, we recommend checking in: have you established a trading plan, trading journal, and consistent profitability in a trading simulator for at least one month?
If so, it may be the right time to consider a live account.
When starting off with a live account, it’s recommended to trade with very small position sizes. Maintaining your risk profile should be your first priority, as your trading account is a tool you will need for your trading success.
In the end, make sure that you pursue and develop a strategy that will fit your personality, risk tolerance, and schedule. Do not try to trade all markets at once. It is best to master one market first.