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Risk Free NONSENSE!

Risk Free NONSENSE!

You may find many sites that entice you with terms similar to risk free trading through “demo accounts.”  These statements are at best statements that should give you great pause.  The Futures Wizard cannot be fooled and knows that only actual in the market experience can create a good trader, a great trader, or a Wizard. Not only have empirical studies show the abysmal correlation between “demo” trading and “actual” trading. 

When you hear “risk free trading” what you are hearing is similar to stating that a game of Monopoly is risk fee.  In other words, they are claiming it is risk free because it based on a fictitious non-real world of trading.  There are so many differences between risk free demo trading and real life trading that we could write on that topic alone.  The Wizard want to inform you of some of the more important distinctions and cautions you should take whenever you hear about risk free trading or your style of trading. 

As stated above it is risk free because there in nothing at risk- real money is not being used so of course it is risk free.  It is not very insightful when you really consider the context in which that statement was made.  It is tantamount to a guarantee that if you do not go outside you will not get wet.

These risk free sentiments leave out the reality of actual trading in the markets which include several critical indisputable factors.  The first is the emotion that is involved with fake money versus real money.  The differences are endless.  Another important distinction is the way all of these services use so called risk limiting “stop” orders if the simulated market moves against you. 

What they fail to mention is that a stop order only “triggers” what is known as a market order in the particular product for which you have place the stop order.  In reality losses are much greater than the stop price used to calculate demo (“fake”) trading.  In reality The Wizard will reveal one secret to success.  Small (tight) stops will yield big losses in the most painful and prolonged way. 

IN THE END READ THE DISCLAIMERS CAREFULLY!  NO ONE OFFERS WHAT THE WIZARD OFFERS.  OUR INTEREST IS IN YOUR INTERESTS PERIOD!    

 

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