Time to stop reading and click something! On a demo account, of course. Demo money is play money; the habits you build are very real.
1Open a demoMT5 or TradingView
2Pick a reasontrend, level, signal
3Stop firstwhere you're wrong
4Size itrisk 1%
5Target 2R+reward ≥ 2× risk
6Journal itscreenshot + notes
Step by step
- Open a free demo with a broker (MT5 is a great start). Use a balance you'd realistically trade.
- Open EUR/USD on the 1-hour chart.
- Find a simple reason: "Price is making higher highs and just bounced off support."
- Decide where you're wrong and put the stop loss there.
- Size the trade so that stop equals 1% of the account (use the position size calculator).
- Set a take profit at least twice your stop distance.
- Screenshot it and write one line in a journal: why you took it.
Example
$10,000 demo. Stop 25 pips. 1% risk = $100. $100 ÷ (25 pips × $10) = 0.40 lots. Target 50 pips = +$200 if it works.
Wick says
Treat demo money like real money. If you'd never risk $5,000 on one trade in real life, don't do it on demo either. You're training your brain.
When to go live
After 30–50 demo trades where you followed your rules and know your numbers. Then start small: real money makes everything feel different.
Key takeaways
- Stop loss first, size second, target third.
- Risk a fixed 1% so no single trade can hurt you.
- Journal every trade from day one.