In my opinion there are three skills that every trader has to develop in order to be a succesfull live trader.

1. Technical skills and awearness of the environment that he is in.
2. Mental skills (those are most  difficult to obtain because you can develop them trough experiance and self evaluation).
3. Concentration (treating your trading as a business).

The differance betwean trading with your own money and paper money is huge. First of all when you are trading paper money every desition that you make is widout any stress or fear. The desition that you take with real money is under pressure and fear. That makes a huge differace in the end results. I will give you my persona experiance as a live trader. I ve been trading forex for 4 5 years mostly with paper money. Lately ive been acheaving some consistant results in the trader contest and i decided to open a live account. I must tell you that troug the first week i made every rooky mistake that  a trader can make: overleveraging, not following the trade plan, not being abel to wait long enough so my position can unfold, placing too tight of a stop. I couldnt sleep some nights due to stress, i had sweaty palms almost always. Those mistakes and experiances led me to loosing 50% of my account in 3 weeks. So my point is that in order to obtain the mental skills that a trader needs my teory is that the rooky must loose some segnificant portion of his/ her capital and reevaluate his aproach to be succesfull in trading.

You cant exepect to acheave the same results as in your paper trading in the live trading emidiately.
If you deposit small amount of money you will get rekless with the trading. If you deposit a large amount of money you will feal fear and stress all the time. So experiance is the key..

My advice for beginning traders is to deposite lets say 10 to 30 % of their own money in an account and start trading. Place your account stop at 50% stop loss. If you hit that stop try to reevaluate your situations and fix your mistakes. Because you will make all the beginners mistekes belive me. Knowing the rules is the first step. Actually disciplining yourself to follow those rules is the hard part. And please lower your expectations of your performance. If you start trading with the mindset that you will double your money every week you are doomed to fail.
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