Jan 26 2021 at 08:43
I don’t think there is a set time as people learn differently. I would say once you feel you are getting somewhere spend a few months on demo practicing what you have learnt
dutchy1986 posted:
I don’t think there is a set time as people learn differently. I would say once you feel you are getting somewhere spend a few months on demo practicing what you have learnt
Agreed, the exact time always varies from trader to trader, as per their skills and knowledge.
Jan 27 2021 at 09:43
Rassellkarl posted:Jamespaul posted:
Everyone has a different learning curve. Maybe a person can learn the techniques in one day or some other person may learn the same thing in one year. We cannot say for sure that how much time a person will take to learn the concept.
There many timeframes and charts which people have to learn. If a person learns about scalping then he has to learn about the M1 to H1 charts and then there are other strategies like day trading and position trading for which learning of D1 charts is necessary. For instance as a scalper from the beginning, even while practicing on demo on pepperstone, LCG and fxview, I never for once settled unless I learnt about different indicators, use of leverage and market patterns. So, as per the strategy one is following, it’s imperative to learn all the things related to it.
I think leverages should not be used by anyone and only reserved for the advanced traders with experience.
Jan 27 2021 at 10:38
Before coming into the trade market, one must have basic knowledge of trading, about the market trends and its economy. Practising on a demo account first before placing any live trade will come out as an advantage for everyone.
Jan 27 2021 at 13:02
jimmyneeesham posted:Rassellkarl posted:Jamespaul posted:
Everyone has a different learning curve. Maybe a person can learn the techniques in one day or some other person may learn the same thing in one year. We cannot say for sure that how much time a person will take to learn the concept.
There many timeframes and charts which people have to learn. If a person learns about scalping then he has to learn about the M1 to H1 charts and then there are other strategies like day trading and position trading for which learning of D1 charts is necessary. For instance as a scalper from the beginning, even while practicing on demo on pepperstone, LCG and fxview, I never for once settled unless I learnt about different indicators, use of leverage and market patterns. So, as per the strategy one is following, it’s imperative to learn all the things related to it.
I think leverages should not be used by anyone and only reserved for the advanced traders with experience.
A trader is only bound by its capacity to learn. There is not a clear distinction whether one is an advanced trader or a beginner level trader. I don’t think any type of trader and broker whether that is a simple, intuitive style broker Fxview or interactive brokers which is complex, no one is bound to a particular boundary of hierarchy. If you have done your homework and know the risk of the trades and techniques, then yes a person should move forward.
I think such issues are really considered individually for each trader.
After theory, you always need to start practicing, and a demo account is a very convenient option.
Demo for at least 6 months
Ideally been consistent for 3 months ie profitable in a row
Ideally been consistent for 3 months ie profitable in a row
flashoutline posted:
This is a simple question - trade demo until you have been consistently profitable on demo for 3 consecutive months.
Agreed with 3 months profitability under your built your well on your way to mastering live conditions
After training, you need to go through practice on a demo account, this is really what will give you, we are very much.
dutchy1986 posted:
I don’t think there is a set time as people learn differently. I would say once you feel you are getting somewhere spend a few months on demo practicing what you have learnt
Yes, demo account can be the best option for learning forex trading.
Mar 29 2021 at 12:33
Trade on a demo straight away. Best to do this while you are studying it will give you a better understanding of what you are doing
If you are done with the course, you can surely begin with demo accounts at different broker platforms. Practice as much as you can.
Apr 09 2021 at 14:49
The demo account is used for practice. It is best to trade at a demo account for at least 4 months.
Apr 10 2021 at 13:01
anneyates posted:
If you are done with the course, you can surely begin with demo accounts at different broker platforms. Practice as much as you can.
I also agree. At least practice 5 to 6 months in the demo account. After that think about low investment.
Sep 04 2021 at 08:22
LyudmilLukanov posted:
The demo account is used for practice. It is best to trade at a demo account for at least 4 months.
A demo is the best place to learn and practice trading.
Learning never ends. It's a never ending process. Market is ever changing. To cope with it you have to keep improving your skills and experience.
Sep 06 2021 at 20:01
Miki_Bao posted:
I've read some information in Babypips for months, and also some trading instruction/guide in some brokers' website.
I just don't know when to start? How do I know I am ready?
It’s always learning
Start with a demo account until you feel comfortable
for everyone, of course, it happens in different ways, but you yourself will understand when it’s already worth it to move on to practice, and in general, little by little, in the course of training, you need to consolidate with practice
Well, nobody prohibits you to start trading right away without any special preparation for it. You have to understand that experience in trading activity comes with practice. The more practice you will have, the earlier you will gain success. Of course, learning is really significant in trading activity, but if you have already passed basic courses and know basc notions, then you already are ready to start trading activity. If you still doubt in your strengths then you can starts off from demo account. There you will gain a bit of experience and then you can go to the real account. Only by these step you will gain success.
