It’s true, and it applies to all fields of life including forex. When a trader practices on a demo account, he gets used to the working of the real market and can form better strategies. On the other hand, there are also some traders who try the ‘hit and trial’ method when trading from a live account. This is extremely harmful and unless you are so lucky that every strategy you apply turns out as a success or profit in the ‘hit and trial method’, you will soon turn bankrupt from losses. So please don’t try new strategies that you have formed in a live account, but a demo account.
The proverb is definitely apt for forex trading. In forex no amount of practice can take a trader to perfection as the market is highly volatile and changing. Still they can reach their full potential through continuous learning and practice. Forex trading is a risky venture and requires lots of hard work on the trader’s part.
indubitably. no practice - no success, it was tested by many traders who were theoretical geeks but when they were asked to open the platform and start trading, they did nothing just dumping their funds. it's so silly. i would even state that practicing prevails over the learning, as the learning gives traders only the understanding of how the market works, but the real success comes with the practicing and the more you practice, the more benefits you receive. SIMPLE.
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