Nice to so many good comments here! We see a tendency among traders that they always want to maximize their trading capital but they don’t focus on maximizing their trading skill. This is the reason that always keep them lag behind. So, traders should focus maximizing their skill so they can benefit from trading.
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How many months you used DEMO?
- Thread starter lioneld
- Start date
If we are using a trading system that is easy to understand the income will also get increased.
With the help of the Demo trading based accounts the income from our trades will also get increased.
In the beginning, I demo traded for around two months before making my first trade in the live market. But I never stopped using a demo account as they have still been helping me with my trading strategies. I try my new strategies on my demo account to get an idea of how they may work.
We can learn trading in the Demo accounts without any Risks.
You can practice on a demo until you feel confident enough to move to accepting loss. I practised for 6 months and nothing prepared me for the risk that awaited once I started live trading. See how long it takes you to backtest and practice until you get an idea. Good luck.
Some traders foolishly turn their life into a hell because they try to take a loan from bank either from bank or from any individual. Borrowing money for Forex trading is nothing but a new job. If he or she fails to make profit on his invested capital, it will be life-threatening for him to repay the loan.
Trade in a demo account for 6–8 months. Even though it is not psychologically the same as trading in the real account, it is definitely compulsory to do enough trading in a demo account, to get comfortable with trading, your trading platform, market analysis and many other things. A demo account is a zero risk account and you don’t lose anything by trading in it. Once you are comfortable in trading in a demo account, open a live account with a very small capital and practice trading. But treat this account like a demo account and consider this as another learning period. So, don’t get discouraged by your losses and assume that you haven’t still gone live, even though you have.
We will need to use the Demo accounts for more than 1 years.
This issue has become quite stereotype nowadays. Sometimes trading becomes difficult for a technical glitch-affected platform.
You have to make the best use of your potential to derive better profit from the market. In this case, having a proper trading strategy is so much important!
We must make use of such type of a trading strategy that is easy to understand and use by us.
Skill development is essential for every trader. Technical knowledge is essential for trading but fundamental knowledge should also be accompanied with it.
Practice more and more on demo account so you can catch your mistakes. Lack of patience and practice push a trader towards failure.
Newbies can’t derive profit from the market moderately just because they don’t have sufficient knowledge. So, analytical knowledge is essential.
Traders have to understand the reality of the market through demo trading. There is no alternative to market analysis for catching the market direction.
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