how to learn better....

[Komondar]

Try mini account it enables trading with significantly smaller investments and introduces emotional sensations and psychological pressure (which are crucial and absent on a demo account).

 

[Komondar]

In your experience, what's more beneficial for understanding forex: diving into books and literature or practicing with a demo account for hands-on experience? I'm curious to hear perspectives on theoretical knowledge vs. real-world application!

Also can try BabyPips, I believe it's the best free educational resource for beginners.

 

[ImogenBeaumont]

Thanks for the advice. I'm now getting help from Baby Pips and other communities. Thank you Komondar.

 

[SamuelFXx]

Practise with the small ammounts

 

[7Bulletin]

The best is to combine, but I vouch for first-hand experience more. The same thing is in any other business, to be fair.
If you start doing something which can potentially bring lots of money, it's better to try it first, especially knowing the fact that you always have a democ account at your disposal. In real business, like retail one, there's no demo and you operate "no pain, no gain" concept.
Here you have an opportunity to understand whether you are capable of adjusting to this sphere or not via demo account. But again, don't forget that staying on it for long can be dangerous.

 

[Goldcaster]

Get some basic theoretical knowledge and start trading on the real account. Perhaps the Cent account will be the most suitable.
The beauty of Cent acc is that you won’t spend a lot of money on it, but it is still a live account where you will trade on the real money. It is crucial to get the real emotions from trading.
You won’t get that from the demo.

But if you have money to trade with micro lots on the Standard account, then do it instead. There is nothing more educational than losing your hard-earned money and making conclusions out of the mistakes.

 

[Laozhji]

Some traders find reading literature as the easiest way to know basics of margin trading while oters isnist on first-hand experience, you know, to touch these buttons, to open these orders and so on.
If you have never tried either theoretical learning or practical ones, then gradually start reading something in forums, chit-chat with fellow traders, or just pass courses. If you realize that this knowledge slips your mind quickly, then try trading on the demo or on such accounts as Cent one. The latter is more beneficial from the point of emotions control skills honing.

 

[Komondar]

Theory without practice is dead

Some traders find reading literature as the easiest way to know basics of margin trading while oters isnist on first-hand experience, you know, to touch these buttons, to open these orders and so on.
If you have never tried either theoretical learning or practical ones, then gradually start reading something in forums, chit-chat with fellow traders, or just pass courses. If you realize that this knowledge slips your mind quickly, then try trading on the demo or on such accounts as Cent one. The latter is more beneficial from the point of emotions control skills honing.

Theory without practice is dead

 

[Faelar]

I don’t understand why this discussion even exists? How can anyone compare theoretical knowledge and first hand experience?

Practical background will give you incomparably more. Of course if you are willing to participate too. i mean not just trade, but also analyze and make the right conclusions.

 

[wassa]

Start with foundational books for theory, then utilize a demo account for hands-on experience without financial risk