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.
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.
' Yes, having knowledge is very important for a newbie. You can demo trade with a number of brokers like XM, XTB or Turnkeyforex and after demo trading you can figure out with whom to trade and will it be of any benefit to you. Always and always analyse the prices before trading anywhere. Don’t take risks with your money especially at that time when you can easily make profits. '
Yes, demo account is perfect for practice and analysis work, that is why i am continue doing demo trading and live trading with micro lot size, i am learning and gaining some profits as well.
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.
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.
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Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
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