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[freezin26]

so, how long should one keep his demo account? Until he learns how to actually trade? Probably. But what will happen if you enter the market and once you are in an actual trade, you have no idea what to do? That is scary.

[hale24]

Originally Posted by freezin26

so, how long should one keep his demo account? Until he learns how to actually trade? Probably. But what will happen if you enter the market and once you are in an actual trade, you have no idea what to do? That is scary.

why would you risk to try the real thing if you know that you're not yet ready to take the next step? that is why forex provided a demo account to those who are new to this thing so they could get used to it and lessen the risk that may lead to a big loss. don't risk your money out of your curiousity or you'll end up on catch 22. trading is deffinietly a risky thing to do but a rip roaring ride when you're already on the right track.

[freezin26]

thanks, hale24

it can really get a bit confusing. So definitely, one should stick to demo account until he/she is confident to trade in an actual account.

[pinalli]

Originally Posted by freezin26

so, how long should one keep his demo account? Until he learns how to actually trade? Probably. But what will happen if you enter the market and once you are in an actual trade, you have no idea what to do? That is scary.

Hello,

Actually demo trading sessions depends from person to person. If you are smart enough to track day to day changes and price fluctuation forecast then you can stop demo and try live trading with smaller amount. but if you still are not confident enough you should practice more.

[hale24]

yes, indeed it is confusing at first but demo accounts would lead you to no confusing matter. you can have as many mistakes as you can without losing anything and by that you will have your strategies that will soon be develop by your next try outs or should say on your real trades.

[freezin26]

Originally Posted by pinalli

Hello,

Actually demo trading sessions depends from person to person. If you are smart enough to track day to day changes and price fluctuation forecast then you can stop demo and try live trading with smaller amount. but if you still are not confident enough you should practice more.

Thanks for that tidbit. I do now understand how important a demo account is. Aside from it being risk-free, trading strategies can be tested through a demo account without any cost. But sometimes, a person can get really excited about trading (which I believe will result to a terrible outcome). So for beginners like me, the first thing to take note of is to stick with demo accounts.

[hale24]

Originally Posted by freezin26

Thanks for that tidbit. I do now understand how important a demo account is. Aside from it being risk-free, trading strategies can be tested through a demo account without any cost. But sometimes, a person can get really excited about trading (which I believe will result to a terrible outcome). So for beginners like me, the first thing to take note of is to stick with demo accounts.

yes that is a good idea. you can always make the first trade that is if you think you're confident enough to do so. remember, never lose more than what you risk.

[pinalli]

Originally Posted by freezin26

Thanks for that tidbit. I do now understand how important a demo account is. Aside from it being risk-free, trading strategies can be tested through a demo account without any cost. But sometimes, a person can get really excited about trading (which I believe will result to a terrible outcome). So for beginners like me, the first thing to take note of is to stick with demo accounts.

Welcome my friend, i am glad that my tips helped you. Demos are a very effective tool to get yourself trained in forex trading and increase your winning ratio.

Regards

[CashSplash]

Here are some good website where you can learn about the Forex market.

1. Forex Trading Information, Forex E-books, Articles, Brokers (a good place to learn about Forex trading, and everything about Forex tools, strategies, brokers etc).

2. Investopedia.com - Your Source For Investing Education (a forex dictionary, any questions about Forex related stuff ask it here).

A personal advice before trading live, make a strategy and test it on a DEMO account first, once your strategy brings you some profit then go for a live account.

[CashSplash]

Originally Posted by freezin26

so, how long should one keep his demo account? Until he learns how to actually trade? Probably. But what will happen if you enter the market and once you are in an actual trade, you have no idea what to do? That is scary.

yes you learn on DEMO first, you test your strategies on the DEMO and learn everything about trading, you must take the DEMO seriously and pretend your trading live, keep al the loses and profits. Once you start making profit on the demo account, and you understand about trading, then you on to live account and do the same, but risk less.


best regards

[trader545]

I also suggest trying on demo.
It's really good to try different brokers with different platforms, because experience is the most important. But after trying, I think, it's better to find THE ONE, that suits you best - who has a reputation in the financial market, where the customer care support is very good and of course, it must be safe and reliable!

Definite demos help to grow yourself matured. The best investment is always the investment on your brain. Without a doubt, Forex trading needs much more than just a few guidelines or tips to be successful. Experience, knowledge, capital, fortitude, and even some help of luck are all crucial in one’s success in the FX market. if you lose in a trade, do not lose the experience in it. Learn from your mistakes and regain your position in the next trade

[hale24]

i definitely i agree with that. but i think it's better to stick with one broker you think is comfortable to be partner with. and chose a demo that best suits you so it won't be confusing on what to follow. but you just have to be careful on choosing the good one.

[Daniele]

Originally Posted by hale24

i definitely i agree with that. but i think it's better to stick with one broker you think is comfortable to be partner with. and chose a demo that best suits you so it won't be confusing on what to follow. but you just have to be careful on choosing the good one.

I agree. Chose one broker and stick with it. No need to change them if it works for you.

[hale24]

Originally Posted by Daniele

I agree. Chose one broker and stick with it. No need to change them if it works for you.

right Daniele. trying many thing might lead you to confusion and that's not good because you won't definitely know where to start.

[trader545]

But it is interesting to try different demo accounts from different brokers. For me during my analysis it was important to analyze different brokers. I think before trying with real money you should at least read about the particular broker in the Internet.