Demo accounts are very useful we had improve our trading knowledge and experience with the passage of time to achieve our targets of maximum profit because Forex market is highly risky.
For newbie practice in demo account is very much important, because so many trader fail as beginner with one reason lack of experience, while on demo account they can test system trading and also learn how to trade with money management and risk management, keep discipline during practice in demo account will giving good habit later on real accountI think that it is not only possible to master a strategy on a demo account, but also it is recommendable to do so because on the demo account one can test it as much as they want and even if they make a mistake there won't be any consequences.
Do you think its better to start from demo account or right from live one? I mean from psychological point, demo can be quite dangerousForex is a complicated business area and there is no argument regarding this fact. But there are numerous opportunities for the traders and for the beginners to learn about forex market and forex trading in many ways, such forx e-books, tutorials, videos, demo trading accounts, etc. But among all the options available for learning and practicing forex trading only the demo trading accounts can offer professional learning and training and traders can get the real experience of trading without any investment.
That’s why demo accounts are becoming popular among the novice traders. Even many instances, pro traders also use demo trades to evaluate the trading strategy they want to use on long term horizon. As demo accounts involve virtual cash, I think every novice trader should practice trading with demo accounts at the initial level at least.
Can you name me some advantages and disadvantages of demo accounts?