Demo Account is a practicing Account
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Some newbies do trading without practicing on a demo account and think forex money is easy. but it's just to risky. 😕
I am new here, i have also check profiforex i think i will open two account, one for demo account and the other micro account with them in order to be much used to it and also to minimize my loss and maximize my profit.
Yes, exactly..while I advise all newbies to start off with a demo, to familiarize themselves with how the market works, placing orders, using SL etc..it might be a good idea to go live with a micro or nano account at the earliest, once you have a trading strategy in place and are ready to go live.
A live account experience is certainly different from a demo..and the micro can be used instead of a demo..
A live account experience is certainly different from a demo..and the micro can be used instead of a demo..
Of course, as long as you already possess the knowledge and confidence to do the trade 😉 anyway, you might want to visit and check 1pipfix they suit and value small traders 🙂
Hi to all of you here
I'm a newbie and I've already start learning about forex.I think that everyone should practise a lot on demo acc, and after with live acc should control his/her emotions, cause when real money is in the game... there is a "little" difference.
Some traders use the sentence "go with the flow"...others says- go opposite....
Which way should I go?
I'm a newbie and I've already start learning about forex.I think that everyone should practise a lot on demo acc, and after with live acc should control his/her emotions, cause when real money is in the game... there is a "little" difference.
Some traders use the sentence "go with the flow"...others says- go opposite....
Which way should I go?
Micro account with minimum deposit of $1
A micro account is also a very good practice tool. Since this account enables you to trade in cents, it would be less risky and almost like a demo. With a micro account, a trader can experience the emotional side of trading and get use to it.
A micro account is also a very good practice tool. Since this account enables you to trade in cents, it would be less risky and almost like a demo. With a micro account, a trader can experience the emotional side of trading and get use to it.
Hm, I'm not quite sure about it. I think that there is a little difference between 0 and 000. One of my math teachers use to say-one zero - one tower. But let's say this way- no risk-no profit
Yes, you can..and actually with a live micro account, you would be trading in a live environment. As a newbie you may want to start off with a demo but there's no reason why you cannot use a micro in place of a demo..
Demo trading is always good for a beginner trader since it allows you to trade without using your real money. One can also trade with the micro account since it can be traded on cent, micro account allows a trader to trade without losing much of his money, with micro account, you will be able to cope with the emotional side of the market.
Using demo account is good for only getting used to basic trading tools and how everything works on trading platforms. However, if you want to get some real experience and also you want to develop a good trading strategy than you should go with small real account( nano, mini or micro). I'm pointing out this because if go with demo account you are not actually trading and what ever you'll lean there is not going to work on real account.
For every newbie it is important that they practice with demo accounts for at least 6 months. Consistency is required here. Most brokers provide demo account for their traders- seen in fxpro, profiforex, oanda, among others. Hence, when trading demo most trader don’t put in seriousness. They feel there is nothing to lose.
Demo account is the final training ground for forex newbies. You learn and get the feel of what the real market looks like without risking your money. It is advisable that newbies should trade demo account for at least 4 months, and move to real account only when they have master and made consistent profit on demo accounts.
Well while demo experience certainly help with practising, are you absolutely certain that you are practising on the same conditions(spread,execution, etc) as it would be on a live account. Also, let me know if you have found a demo account that reflects roll over rates and interest accrual as well.
I have seen many aspiring traders who have been trying coming into the Forex trading field without having any knowledge about it. They think Forex trading is just like gambling. They don't even practice on Demo account. I feel pity on those people that they will never be able to understand the real joy of Forex Trading when you know how to do it.
New traders can either opt for a demo account or go live asap, with a small account. The demo account is great for learning the ropes, how to place and close orders, how to tweak the indicators, coming up with a viable strategy..and that's about it.
Because when it comes to actual trading, in general the demo accounts vary from real accounts, which is why a new trader who trades very well on a demo would not do that great on a live account.
Because when it comes to actual trading, in general the demo accounts vary from real accounts, which is why a new trader who trades very well on a demo would not do that great on a live account.
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