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.

Willemcurtis 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.

Demo trade is always a safer option when it comes to trading. If you are unsure about some strategy or some trade, you can demo trade in them.

Every newbie should grab as much knowledge as they can and always keep your brain open to learning new things in order to earn.

The best tools for money management trading. It is not possible to be satisfied with trading if money management is not right. One of the conditions of money management is to take a 2% risk in each trade. Taking more than 2% risk can put the account at risk. And you should always trade at a 1: 2 risk-reward.

To make forex trading easier, you need to control emotions first. If a trader has strong psychology, trading will be much easier for him. Money management can make trading easier. So the first condition to make trading easier is to control the emotions.

DanielGlaus posted:
To make forex trading easier, you need to control emotions first. If a trader has strong psychology, trading will be much easier for him. Money management can make trading easier. So the first condition to make trading easier is to control the emotions.

How do you handle your emotions?

Newbies often get impatient and want to earn quick bucks, but they should always understand that to gain profits, knowledge and experience is must which only comes by consistent practice and hard work.

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