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I have seen according to my trading experience, by and large beginners fall a great loss by taking high leverage due to non-sense planning and zero risk management policy. So, before trading high leverage, we the traders in particularly the beginners have to know how to manage risk.
Yes, for getting better experience we can trade in a demo account, but practically we the traders in particularly the newcomers don’t believe the importance of this trading place at all. In my trading career, before live trading, I use my all trading strategies in my demo account to see the performance how it works.In forex trading this, experience is important because with good experience will help us to be able to improve trading results. therefore, we must always improve the experience well with a demo account or to participate in the contest demo
Actually in my early days i Had invested a lot of money and lost badly and since then .. I always advise any one to first learn as best one can and then test your knowledge on Demo platform and then when you feel your performance is good then go for the live account .
I think as newbie they also can take lesson from bad experience among senior trader which they might not trained skill using demo and just want to making quick money but in fact many trader fail and losing money, and demo account is good way to learn for beginner
I ever reading certain trader losing huge money in forex which in my view is very big money, might not for retail trader like as me, which usually only start from small capital and often also trade from bonus no deposit, but in trading might we also can learn from our experience