simulation guide for successful trading
Customers can open a demo account via the application platform for FREE. This simulated account has the same capabilities as a real account.
why free?
That's because the broker wants the customer to learn the ins and outs of the platform and improve the trading experience.
Demo accounts EDUCATE the mechanics of forex trading by testing trading skills and process transactions without risk.
Risk=Zero!
ALWAYS USE A DEMO ACCOUNT UNTIL YOU KNOW A DECENT TRADING SYSTEM BEFORE THINKING TO DEPOSIT WITH REAL MONEY.
WE REPEAT…
YOU SHOULD USE A DEMO ACCOUNT UNTIL YOU KNOW A DECENT AND PROFITABLE TRADING SYSTEM BEFORE THINKING TO DEPOSIT WITH REAL MONEY.
"DON'T WASTE YOUR MONEY"
Now, put your hands on your chest and say to yourself:
“I will trade with a demo account until I can develop proper trading skills before using real money”
Now touch your head with your index finger and say...
"I am a smart and patient forex trader!"
DO NOT open a real account until you are CONSISTENTLY making profitable trades on a demo account.
If it is difficult to wait until you make a profit on a demo account, then there will be no possibility of making a profit even if you have created a real account.
At least do a trading simulation for THREE to TWELVE months.
Hey, at least this can withstand losing money for a year. If you can't survive, just donate the money to a charity or give it to your parents. Show you care about your family.
Focus only on ONE major currency pair.
It's too complicated to keep an eye on more than one currency pair when you first start trading.
Just focus on ONE of the major currencies because they are the most liquid with low spreads and less chance of slippage.
Focus your time on improving the trading process and creating good analytical habits.
You also need to get a feel for different market environments and learn how to adapt your methods and strategies as the market moves.
You can become a professional trader, but as with any other aspect of life, getting to that point requires hard work, dedication, a little luck and a lot of patience in judging.