Demo trading for 6 months
- Thread starter jamesray
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TrapLok
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Anyway, you need to spend so much money that you can lose
alaska27
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Forex trading is not a simple business to understand. It is suicide to invest in it without having any knowledge about it. Demo accounts are the best option for you if you are serious about coming into the forex world. Demo accounts will help you understand the compexities of forex trading.
William Barnes
Banned
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Not really. Spending 6 months in demo trading is actually very short span of time I guess. But it will definitely depend on the abilities of a foreign currency trader to judge the market. If a trader is able to gather sufficient basic knowledge in six months then it is fine. Nevertheless, from my point of view, a currency trader should try to acquire adequate trading skills and expertise with the help of various learning tools like forex e-books, video tutorials, and You Tube training courses and side by side he should practice with demos.
In this process, a trader can see the divergence between the theoretical and practical aspects of forex trading and he will be able to clarify the misconceptions about forex market.
In this process, a trader can see the divergence between the theoretical and practical aspects of forex trading and he will be able to clarify the misconceptions about forex market.
Learning is a long term continuous process. Trading needs special knowledge and skills. You have to attain that skills. It's not like high school exam. By following short cut you can pass an exam. But if you want to learn something, you have to give time and efforts. It takes years to be a successful trader. Exact time depends on your learning capabilities. But it takes time.
Yeah patience is a key to success. Newbie traders are looking for easy and quick profits, overestimating capability of earning and underestimating the odds of losing. In other words they take higher risks for bigger potential gains, but forgetting that higher risk is more difficult to manage. Setting the right targets can be complicated if its your first exposure to the market as often happens with newbies.
Ross Bourque
Banned multi and spammer for ForexChief
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I am working here as a part term trader and trying to make some additional income from forex trading. But successful forex trading will always require sufficient knowledge, skills and expertise about forex trading. We can’t survive here for a long period of time if we have short of expertise. To help the traders to acquire adequate trading skills traders can use various learning tools like forex e-books, video tutorials, You Tube trading courses, webinars, etc.
However, demo trading accounts are considered as the reliable learning tool that can help a forex trader to gain real trading experience with the use of artificial money. For this reason, I have spent almost 1 year time in demo trading accounts. It actually depends on your ability to learn things.
However, demo trading accounts are considered as the reliable learning tool that can help a forex trader to gain real trading experience with the use of artificial money. For this reason, I have spent almost 1 year time in demo trading accounts. It actually depends on your ability to learn things.
I would say minimum 3 months profitable demo trading is enough to start a Live account with small amount of money and get a taste of real market conditions. I practised my strategy for 1 year on my demo account and opened a live after that. I still use the demo account for practising and learning new strategies. I would say never stop trading with the demo account no matter what.
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