Meloisel posted: During practice on a demo account, you have the opportunity to try all your theoretical knowledge in practice.
Even though the demo account seems so realistic and few brokers would also claim to offer real exchange rate data, the reality is far from true. Particularly during the fast markets, there are chief economic data releases and news events that can’t be supported in the demo account.
Hey tell me how can you practice your money management skills if not in demo account trading? Especially this being a crucial part of your trading and guaranteeing long term success.
Absolutely true there Richard. Regardless of whether you’re a beginner or an experienced trader, it’s important to put into practice the real exchange rate movements and how the virtual money profits can strengthen your real game.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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