Every newbie should practice

Every newbie should practice in their demo account. Demo trading is very much important for every newbie. Because you can know many thing from this. But many newbies think that Demo trading is really dull as they have to do this for a long time. Moreover they won't get any real money from this demo trading.

Yes practicing in demo is very beneficial. It is the place where we can develop our strategy and test our strategy without losing money.

Every trader needs to gain experience by practicing demo trading. If you can't create a strategy by trading demo, then it is not possible to trade at a profit.

True. Always start trading with a demo account. It is the best way to learn without losing money.

AliaDare posted:
Every trader needs to gain experience by practicing demo trading. If you can't create a strategy by trading demo, then it is not possible to trade at a profit.

Traders need a profitable strategy in trading market. Demo account is the best place to build and improve a trading strategy.

Yes after a point you feel bored with demo trading because you don’t earn anything. This is why now I have started live trading with micro lots and also trade on a demo account to test my strategies.

Sarjohn posted:
Yes after a point you feel bored with demo trading because you don’t earn anything. This is why now I have started live trading with micro lots and also trade on a demo account to test my strategies.

Going good mate. Demo trading is good for backtesting and initial familiarity but eventually, its live trading that tells how you're doing. When real money is involved, the scenario is different, so starting with a small amount is a wise decision for few months of demo.

radioactive posted:

Sarjohn posted:
Yes after a point you feel bored with demo trading because you don’t earn anything. This is why now I have started live trading with micro lots and also trade on a demo account to test my strategies.

Going good mate. Demo trading is good for backtesting and initial familiarity but eventually, its live trading that tells how you're doing. When real money is involved, the scenario is different, so starting with a small amount is a wise decision for few months of demo.

Yes and till now I am in profit not so much but still gaining profit. How are you going?

For beginners, it is important to gain sufficient knowledge and experience to excel in Forex. Demo trading is definitely the best way to practice and learn about Forex trading to make it effective.

In real life, no one open shop by playing monopoly first.
Or being the best in monopoly doesn't mean success with real business.

Forex is a business, so why treat it differently with others?

You just do it with real money. Gain experiences. Learn, do your homeworks, follow real traders, and then start from small. Losing is part of the game. You won't get that feeling from demo account.

Demo account is only for backtesting NEW strategy, manual or automatic.

without practice any level of trading can be useless , so we the traders first of all have to make sure real practice session.

Greed and emotions almost same. Generally beginners attacked by this common human nature. We can control this by proper trading practice as well great discipline.

Newbie should avoid scalping as it can ruin their trading psychology. Most traders develop overtrading habit by doing scalping in their early trading life. Then they struggle to change that habit.

Many are attracted to Forex as a get rich quick scheme but do not want to put any work in at all. It is no surprise that they lose all their money

SofieAndreasen posted:

AliaDare posted:
Every trader needs to gain experience by practicing demo trading. If you can't create a strategy by trading demo, then it is not possible to trade at a profit.

Traders need a profitable strategy in trading market. Demo account is the best place to build and improve a trading strategy.

Yes, why waste money on unnecessary education. Since the broker is allowing me to do demo trading, I can develop a strategy from it without spending any money.

For sure, demo trading is useful to get started. It's important to have a consistent strategy that you are profitable with before going live. There is no point in going live with no idea what you are doing.

Practice, practice again and practice again - this is what should be constantly.

Practising is the key to getting better and earning some money in forex. Can’t get anywhere without it.

i always try to keep practice in demo or live , because i know very well only this practice issue can keep my trading result well. in Forex trading there is no way to stop practicing in spite of having good knowledge and experience.