07/04/2013 21:18
Using a demo account and trade in a demo environment with virtual money, should be a space before the start of live trading. Such a facility can open your current Forex broker and thus can not benefit from their brokers trading platform where you can find many free demos of tools and video instructions, free books about Forex, etc.
Account demo will offer an advantage trading without using your own money. In fact, theoretically financial amount that will be available on your demo account, often in the amount of $ 50,000 - $ 100,000. If used properly, this service can provide great benefits, such as significant experience and skills in Forex trading. Many experts recommend that such an account should be used for a period of 3-6 months before going live account and use real money.
To confirm when is the right time to start risking your real money, you should do this after having registered a steady and repeatable profits with their demo account. Always keep in mind that Forex is a complex issue and a good strategy would be overly cautious in their approach to it. Demo accounts allow to make errors without losing your real money, and that these mistakes are learning.
If you want to make the most profit from a demo account, you are advised to first create a live trading environment as closely as possible, and secondly to test their different trading strategies as you can over the approximate time when you want to use and realistic, the actual order. Great emphasis should be placed on risk and money management strategies to make sure that you are aware of a way to protect your budget when it is time for you to go live. In fact, you should make sure that the hours and times of day you decide to trade will be the same as those that will be trading in a real environment. In this way, your full demo will be the right place where you will be asked to learn everything you need for a real, live account.
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Forex brokers are ready to offer you the option of opening a demo account, because they can later impress you with the tools and services they offer. Their main goal is to convince you to open a live account with real money will you spend on a real account. What you should be careful about is the fact that very often there are significant differences between demo and live trading.
In fact, when you are demo trading, psychological and emotional stress is obviously different than when you live trading. Of course, this happens as a risk when demo trading is not really present. This leads to less stress and the development of a different approach, as your demo trading will go without thinking about the risks involved in each situation. In contrast, live Forex conditions can put great pressure especially if repeated losses occur. If Demo lot even though it is used properly, it will become an important tool for your success in live trading. It is also very important that you will choose the right broker trading. In fact before the opening demo accounts should review more brokers offer what the demo and what is the right order and you decide to someone there to open first demo and then the real account.
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