[00:00] trader. The most important thing that you can do&nbsp; as a new trader is create a demo account and only&nbsp;&nbsp; trade that one account. Don't go and open up&nbsp; a demo account and then have some wins, have&nbsp;&nbsp;
[00:13] some losses, and then ignore those losses, close&nbsp; that demo account, and then open up a new one.&nbsp;&nbsp; I want you to trade the same demo account over&nbsp; and over and over and over so you can literally&nbsp;&nbsp;
[00:25] scroll through your entire demo account and see&nbsp; your own track record. Have the actual results&nbsp;&nbsp; and the actual statistics of trades that you've&nbsp; actually taken. And then with that amount of&nbsp;&nbsp;
[00:37] data and testing and using the same strategy, you&nbsp; can see concrete evidence that you in fact are a&nbsp;&nbsp; profitable trader. Even if your account isn't&nbsp; growing astronomically, like you start with a&nbsp;&nbsp;
[00:50] $100,000 demo account and then you're at $550,000.&nbsp; No, I want you to practice trading the smallest&nbsp;&nbsp; lot size possible, which is a 0.01. I don't want&nbsp; you to focus on the amount of profit that you're&nbsp;&nbsp;
[01:04] making. I want you to focus on number of trades&nbsp; won and number of trades lost. If you can focus&nbsp;&nbsp; on this and actually be consistent and trade the&nbsp; same demo account every single day systematically&nbsp;&nbsp;
[01:18] with a strategy, you can have four, five, six&nbsp; months of data that you can look at and see, okay,&nbsp;&nbsp; this is the amount of trades that I take per week.&nbsp; This is the amount of winning trades. This is the&nbsp;&nbsp;
[01:30] amount of losing trades. Now, I have everything&nbsp; that I need to make an informed decision whether&nbsp;&nbsp; I'm good enough to actually put real money into&nbsp; a live account and trade that full-time. Now,&nbsp;&nbsp; 90% of you that just heard that are like, "Nope,&nbsp; I'm out. I need to make money today." When you&nbsp;&nbsp;
[01:47] put your own real money into the market, you're&nbsp; competing with the best in the industry. And I&nbsp;&nbsp; promise you, they've had a demo account open&nbsp; for over a year, proved their consistency,&nbsp;&nbsp; proved their strategy, and are violently&nbsp; dominating the market. This isn't just&nbsp;&nbsp;
[02:03] some side hustle for people. This is life and&nbsp; death for their banks, financial institutions,&nbsp;&nbsp; and hedge funds. Think about it this way. If you&nbsp; decide to put real money into the live markets,&nbsp;&nbsp; it's the same as you stepping foot on a&nbsp; basketball court with the top players in the NBA.&nbsp;&nbsp;
[02:19] Can you dunk on LeBron James? Probably not. But if&nbsp; you have a demo account that shows that you have&nbsp;&nbsp; a 70% win rate with a 1:2 risk-to-reward ratio&nbsp; and you've done that consistently over 6 months,&nbsp;&nbsp;
[02:31] that's proof that you can dunk on LeBron James.&nbsp; Now, what I recommend is getting a demo account&nbsp;&nbsp; on the broker that you want to trade with.&nbsp; I personally use Gates FX because I like the&nbsp;&nbsp; spreads. So, I'm going to show you really quickly&nbsp; how to open up a demo account. It's absolutely&nbsp;&nbsp;
[02:46] free. All you have to do is go to the first link&nbsp; in the description, click on this start trading&nbsp;&nbsp; button, fill out this registration form to get&nbsp; an account, and yes, they take US citizens. Then&nbsp;&nbsp; once you log in, all you have to do is click on&nbsp; this open demo account. Select whether you want&nbsp;&nbsp;
[03:01] MT5 or trade locker. For most people, I recommend&nbsp; Trade Locker. It's a way more friendly interface.&nbsp;&nbsp; Click continue. Select the account type that&nbsp; you want. For most, I would suggest the raw ENC&nbsp;&nbsp;
[03:13] account 1 to 500 leverage. Now, keep your currency&nbsp; at USD and then set your initial balance close to&nbsp;&nbsp; what you would deposit in your own personal live&nbsp; account. So, if you're only going to have $5,000&nbsp;&nbsp; or $10,000 to trade with, start with that. Click&nbsp; continue. Then click continue again to confirm all&nbsp;&nbsp;
[03:29] the information and it will give you your login&nbsp; details for that platform. Then it'll prompt you&nbsp;&nbsp; right here to download the trading terminal. Now&nbsp; again, this is very, very important. If you are&nbsp;&nbsp; new, I want you to only set every single trade,&nbsp; total amount trade, 0.01 lots. You are trading&nbsp;&nbsp;
[03:47] the smallest lot size so that you can get the&nbsp; reps in. This is your practice phase, and I want&nbsp;&nbsp; you to put off putting in your own money into the&nbsp; live markets for as long as possible. I want you&nbsp;&nbsp; to have a proven track record so that you can&nbsp; come in with confidence and actually dominate&nbsp;&nbsp;
[04:02] but it's extremely crucial that you understand&nbsp; the importance of a demo account. Me personally,&nbsp;&nbsp; I have one open all the time because I&nbsp; practice on it. It's like my punching