Every newbie should practice

It is important to be able to work with instruments, use alerts, trade in one click without all these skills, it will be difficult for you.

Yes everyone newbie should practice and focus on learning. In forex without skills earning is not possible. No matter how long you are trading. Skills and experience is the key to success.

it ia mandatory for the newbies to trade on the demo. If not it will be like driving the car without knowing the accelerator, brake and clutch and the end BANG..

Akasuki posted:
Yes everyone newbie should practice and focus on learning. In forex without skills earning is not possible. No matter how long you are trading. Skills and experience is the key to success.

Not only new traders but also professional traders need to practice. In fact, every trader needs to be educated.

friedjohan posted:
Demo accounts serve like a practice tool for traders before they can switch to trading live. It is indeed a good thing for newbies.

If you want to create an experience, you have to take the help of a demo account. Demo accounts help a trader build experience.

Yes demo is good to have an experience of forex trading. But to ise the best of an demo account, one should follow proper risk management and trading rules.

Newbie they still lack in experience and need more guidance, I think better practice in demo account and learn how t0o manage money in account trading, keep in practice until finding profitable trading strategy, because not all trading strategy work, evaluation when strategy less good, at least provide good profit regularly, then trader start in micro account and they can start with 0.01 lot size.

True. I’ve seen a lot of people try to discredit demo accounts lately. It’s true that you don’t get the psychological experiences of trading with emotions or losses but it can still offer a lot of valuable lessons. Definitely think I would have blown my first account if I didn’t have experience from the demo.

croisssan posted:
It's true. In general, this rule probably works in any industry and it is worth understanding it. It will be quite difficult to get a positive result without practice.

I need to have an idea about the work that I do. It is not different in trading, when I try to trade without gaining knowledge, I will face loss.

FXOday posted:
Newbie they still lack in experience and need more guidance, I think better practice in demo account and learn how t0o manage money in account trading, keep in practice until finding profitable trading strategy, because not all trading strategy work, evaluation when strategy less good, at least provide good profit regularly, then trader start in micro account and they can start with 0.01 lot size.

Training must be accurate. Which will help me to develop trading profit. Therefore, it is much better to practice the demo. This makes it much easier to develop skills and reduces the amount of loss.

Learning to trade is an easy task. Most people do it even without realizing that they are doing so. As a newbie, you should practice as much as possible. By practice, I mean that you should use a demo account and invest some time learning the ropes of forex trading. It is not that difficult.

whitneytyler posted:
Learning to trade is an easy task. Most people do it even without realizing that they are doing so. As a newbie, you should practice as much as possible. By practice, I mean that you should use a demo account and invest some time learning the ropes of forex trading. It is not that difficult.

Talking about demo, i'd say it is a very crucial step before jumping into live. In fact not just newbies but experienced traders also use demo account to backtest new strategies.

Practice is very important for every trader but demo account will never give you relevant experience. Surely, you'll know how to use the trading platform and you'll learn how to make the orders and use indicators and other tools, but you'll not learn how to control your psychology in the stressful environment which is essential for a trader who wants to be a success. So, I suggest starting with the demo account just to learn how the terminal works and after it you should trade real money using microlots.

Just like as want to drive the car, learning theory indeed help to understand, but without practice, it will become useless because, in real life, the driver has the courage to drive, while without experience and practice, driving a car will become a hard thing and scary because no experience, therefore in forex, without experience and practice,, this is scaring business because we can lose money.

Yes practice is important but most people price just for few months then jump into live trading without developing any trading and mindset strategy.

FXOday posted:
Just like as want to drive the car, learning theory indeed help to understand, but without practice, it will become useless because, in real life, the driver has the courage to drive, while without experience and practice, driving a car will become a hard thing and scary because no experience, therefore in forex, without experience and practice,, this is scaring business because we can lose money.

Vert good analogy. I hope that new traders can take this in mind when starting out

To learn and gain experience in the Forex market, beginners should use a demo account. This is the only way to become a successful trader. They will only lose money in the Forex market if they do not learn.

@Williamfreed Yes a demo account is a good way to start. But along getting familiar with online trading, one should focus on learning skills as well.

Studies have shown that you need to practice something for 10,000 hours before you become an expert in it. The same applies to trading. Practice is the only way to improve yourself in a skill. With practice you will realise what works for you, what is your trading style and what mistakes you should avoid which ultimately leads to making money.