Practicing in the Forex Market

[eddiej]

Well everybody knows that the closest thing to live trading would be trading with a demo account. Even though I make a reasonable amount of money, through my live account, I still practice on demo accounts just to polish my strategies and practice my analysis.

 

[budado]

Its okay to invest in real account and trade for the purpose of practicing. But make sure that you know that you are trading in real account to practice and not to earn. Because others when they incur loses they get stress simply because they are thinking actually of making profit and not to learn. In learning you really need to spend money.

 

[sindarin]

I also have the same thought, but what traders need to know is the risk of invest their own money rather than use bonus. All i can say they risk is higher, but i can see there are traders that still prefer this way, since they know that thing so well and already estimated that all. But still we can use demo account for practicing without need to spend a lot of money from our pocket

 

[riddick09]

If we want to have lessen the possible high risks then, we should have the insights or knowledge about the market. Thus, we will need of the practice in demo in this way, we will have learn about the movements in the market and try our strategy with the different indicators if this will be working or not.

 

[budado]

Sooner or later we still need to practice in real account. Because practice in demo account only help us improve our insight how forex trading works. But to feel the real deal we need to trade in real account and I know even if we trade and earn good virtual funds in demo account in real account the action will be different.

 

[PROPENSITY100]

Yeah there is an old saying that practice makes man perfect and it is best suites in the forex trading also the more you practice the more you can earn so i suggest all of the new members to practice and you can do it by opening an demo account first and then go yo the main account . so you are right to trade and earn good amount practice is very important .

I have also developed my analyzing skills in Forex through consistent learning and experience. Forex is not a simple thing that we can learn and understand in a day or two but actually learning never ends in Forex. Forex is a dynamic market and there are always new strategies and things in Forex that we can learn. Thus becoming a successful traders is a timely process and requires both learning and experience.

 

[Cutiekc]

Constant practise with seriousness comes with a good result so therefore we can't be that good trader or even millionaira we have ever dreamed of with practising what we believed that will help bring it to past,so therefore without practising in forex trading there is no way we can make profits unless we hire an account manager.

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Constant practise with seriousness comes with a good result so therefore we can't be that good trader or even millionaira we have ever dreamed of with practising what we believed that will help bring it to past,so therefore without practising in forex trading there is no way we can make profits unless we hire an account manager.

 

[riddick09]

We should definitely have gain experience in practice account. We have realize the importance of preparing ourselves for the battle. And since, we already know that in our practice we are distinguishing which of the strategy will work best for our skills and trading plans.

 

[SamForexTrader]

yes, trading with your demo account will be really a very valuable practice, moreover that practice should be accompanied by doing some technical analysis, try your analytical skills in demo account first.

 

[budado]

yes, trading with your demo account will be really a very valuable practice, moreover that practice should be accompanied by doing some technical analysis, try your analytical skills in demo account first.

We really need to treat our demo account as real account. And that's why we not only going to do technical analysis we also need to do fundamental analysis. Just to have a clear view about market trend and patterns. Anyway another problem in demo account is that we are using huge virtual funds. Just imagine that we have 50,000 dollars in our demo account. But when we trade in real account we only have 100 dollars. Our free margin alone is already a liabilities because we are accustom to trade having 50,000 dollars.

 

[indieover]

Yeah with so much virtual money in our demo account that we would always have enough to recover from our losses and so we tend to take learning forex for granted when we are just using demo account. But still demo account is a very good way to learn trading but you just have to take it seriously.

 

[sindarin]

It seems all of us here already know about this thing that demo account is the most suitable place for newbie and for mostly traders for practicing, and learn more about forex. actually real account is possible but who want to loss their money just for the sake of practicing?

 

[tonnymak]

I recognize. Along with training, you get to find out more on everything you have become in to. On the list of explanations why a lot of merchants crash when they start out is because they will jump with blindly without any prior understanding of industry they may be investing in. Researching as well as training will not likely guarantee that you gain, nonetheless it will area chances a tad bit more to your advantage.

 

[Daisy]

I think when it comes to forex, we do need so much practice and its impossible for a newbie to make money if he's clueless so make sure you put in a lot of practice time and lose with fake money cause you don't want to lose with real money cause it hurts a lot. You will lose as a newbie. You will see in a demo that most of your new trades will be losing trades. So, make sure you lose in a demo first and with fake money and then from those mistakes, you will not do it in a real account.

 

[tray]

Practice make us perfect so if we actually want to get succees here in this biz then we must be willing to learn and get the right practice which is going to help us archive our aims

 

[gkintl]

Practice is a must for successful trading in the forex market. Practice begins with trading on a demo account. It will not only enable a trader to learn forex trading but also allow him to understand the use of indicators, development of trading strategy and more importantly the use of trading platform without any difficulty. These are added advantages of practicing. As we continue to practice, we can understand understand the nits and grits of price movement. This will enable us to trade in a real account without much of anxiety.

 

[seeker]

Practising first in the forex market should be the first thing anyone new has to do in forex trading first before any other think, when you practise in the forex trading market you will get more knowledge on how to make money with less risk.

 

[haneefzain]

Practice makes a perfect Man. so Practice and Practice in forex makes perfect trader..as much practice as much you get experience...

 

[hasan87]

Practice is very important for getting success in Forex business. There is no alternate way of practicing. A trader can start practicing in his demo account which is very essential part of Forex learning. After getting some experience and knowledge about Forex, the trader should start trading in real account by depositing a minimum amount of money. I think that's the best way to learn Forex effectively.

 

[kasual]

Practice required since traders deal with real risk of losing money. Without knowledge and experience, impossible to traders able to manage capital to be growing. Practice both in demo and live account necessary. Develop knowledge, experience and strategy in demo account while develop understanding about psychology trading in live account.