Thing is, demo is easier to trade and make a profit, but demo accounts are not unrealistic. Making a profit on demo is only a starting point - but if you fail to be consistently profitable on demo, definitely do not go live.
New to Forex Trading
- Thread starter zeenath
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Thing is, demo is easier to trade and make a profit, but demo accounts are not unrealistic. Making a profit on demo is only a starting point - but if you fail to be consistently profitable on demo, definitely do not go live.
In demo account, real money is not involved otherwise it is really helpful. In fact, experienced traders still use demo account for backtesting new strategies.
Losing is inevitable for new traders. I like your comment. He would figure it out soon after losing several times.
I agree. Demo trading has a huge role to play in the life on a newbie. So they must practice for a good 7-8 months on demo before staking their real funds.
Yes demo trading helps alot.
True its important to practice for a good time on demo and not just 1 or 2 months if a newbie wants to gain a fair idea of how its actually done.
Absolutely agree here. Instead of trading a number of pairs better trade 2-4 pairs for the start for a better understanding. Just remember success doesn't occur overnight in forex, so focus on learning as of now, clarify your doubts and work on your skills. All the best!
I agree, we gotta take our time and figure things out first and be patient all this while for best results.