Demo-to-Live Checklist

Ten checks to run before your first live gold trade. Tick them on screen, or print the page and keep it next to your screen.

1Before you switch to live

1. I have a written plan: when I enter, when I exit and how much I risk.
2. I have followed that plan on demo for several weeks, through good and bad days.
3. I understand leverage and margin, and what happens if my margin runs low.You may be asked to add margin at short notice, or positions may be closed.
4. I know when this week’s major US data comes out.Usually 8:30pm Malaysia time while US daylight saving is in force, and 9:30pm the rest of the year.

5. I can say in one sentence why I am entering this trade.
6. My stop loss is set before I enter.
7. My take profit, or my exit rule, is set.
8. The amount I could lose on this trade is a small, fixed share of my account.
9. The risk to reward fits my plan.For example, risking 1 to aim for 2. For illustration only.

10. I have logged the trade, and whether I followed my plan.Review the log every week. The goal is following the plan, not any single result.

One more thing: start smaller than you did on demo. Your first goal on live is to follow your plan, not to make a big gain.

Questions before you start? Email support@wcggold.com.