One of the common mistake most traders make , is using their live account to test their new strategy .
It's only a mistake when they're careless with using capitals that's too high for them and them acting like they're still using a familiar strategy so they don't put precautions in place in anticipation of the worst outcome from the trade. Using a live account to test a trade can give you more experience than a demo or Backtesting. You can do everything right with non live experience but when you come into the market the trades doesn't come out as you expected and that's because live experience aren't the same with others. Backtesting is obviously a better strategy to use but just be aware that a simulation should always be treated as one and apply precaution for every trade as just because they're similarities doesn't mean the outcomes will be the aame.
