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New to forex Tips and Advice

  • #101
  • Mar 10, 2019 7:08am Mar 10, 2019 7:08am
With demo account you will loose nothing and obviously does not earn anything but you can earn a lot of experience without risking your own capital.
  • #102
  • Mar 12, 2019 9:12am Mar 12, 2019 9:12am
Quoting jollypk
With demo account you will loose nothing and obviously does not earn anything but you can earn a lot of experience without risking your own capital.
Traders mainly invest their time in demo not capital but the reward is so much meaningful if they can invest their time & energy on the right direction.
  • #103
  • Mar 12, 2019 10:35am Mar 12, 2019 10:35am
generally traders lost more energy and time in demo but got nothing , there is no real money in here for that reason no emotions work that time.
  • #104
  • Mar 12, 2019 11:41am Mar 12, 2019 11:41am
That happens if one does not trade the same way on demo as they would on a live account. In that case, yes, the whole exercise is pointless loss of time and energy.
  • #105
  • May 24, 2019 7:01am May 24, 2019 7:01am
yes , they always do , but only demo is the master place to become a knowledgeable trader , even tough they not serious when trading.
  • #106
  • May 24, 2019 12:40pm May 24, 2019 12:40pm
Well, one can certainly learn a lot on a demo account but it's not the only way to learn. Sooner or later you have to move onto a live account.
  • #107
  • May 27, 2019 6:57am May 27, 2019 6:57am
only we can learn when making a loss , and in demo this experience not possible , so i always prefer live trading for acquiring real trading knowledge.
  • #108
  • May 28, 2019 7:33am May 28, 2019 7:33am
yes , loss always taught us a great lesion , so its or best friend.
  • #109
  • May 28, 2019 12:18pm May 28, 2019 12:18pm
Quoting JamesFaulkn
only we can learn when making a loss , and in demo this experience not possible , so i always prefer live trading for acquiring real trading knowledge.
Do you think total newbies should also trade on a live account?
  • #110
  • May 29, 2019 5:39am May 29, 2019 5:39am
Quoting JamesFaulkn
only we can learn when making a loss , and in demo this experience not possible , so i always prefer live trading for acquiring real trading knowledge.
Hi; I am interested to know your learning process! How do you learn technical & fundamental analysis of trading?
  • #111
  • Aug 14, 2019 6:48am Aug 14, 2019 6:48am
we the traders can learn trading from various sources right now but all sources self learning from looses is the best . a profit gives us a joy when trading but a looses can give us more lesion which can be supportive to be a successful trader.
  • #112
  • Aug 14, 2019 12:53pm Aug 14, 2019 12:53pm
In the end of the day it's important to learn, the source, as long as it works, doesn't matter.
  • #113
  • Aug 18, 2019 7:11pm Aug 18, 2019 7:11pm
Love your Demo Account! Use it as you would a live account - no cheating. The reason I capitalize Demo Account is because it saves me so much money. The other thing which helps me is having a trading buddy who I meet with physically occasionally (at least once a week). It's easy to post bs on forums but pretty hard to blow smoke at a friend who's doing the same thing . It also helps me by making me prove that I can explain what I'm doing, that there is an identifiable method to my madness!

Best of luck!
Don't squat with your spurs on!
  • #114
  • Aug 19, 2019 4:04am Aug 19, 2019 4:04am
the message you tried to give is more good , but really its very much difficult to concentrate in demo, because there is no real money in here , for that reason after passing sometimes we traders lost interest.
  • #115
  • Aug 19, 2019 8:22am Aug 19, 2019 8:22am
Quoting HajiMohsin
the message you tried to give is more good , but really its very much difficult to concentrate in demo, because there is no real money in here , for that reason after passing sometimes we traders lost interest.
My friend, any advice I give is stuff which works for me. YMMV. To me, it's just as exciting to see a trade end the way I thought it would in my Demo Account as in my live account. That gives me the confidence to make my trades in my live account. When I have a couple trades in a row go wrong in my live account, I go to my Demo and figure out what I'm doing wrong. Saves me a LOT of real money that way

Perhaps it's perspective, I'm an old man (71), I have cancer, had a great life and I'm doing this because it's something I wanted to do for a long time and I want to do it right (make money). I've done a lot of things in my life that I wasn't supposed to be able to do and believe me, as bad as losing money on a bad trade makes me feel, I don't have to physically heal up from anything I do trading. Either I will do well or not but I will give it my best try.
Don't squat with your spurs on!
  • #116
  • Aug 20, 2019 8:20am Aug 20, 2019 8:20am
Quoting HajiMohsin
the message you tried to give is more good , but really its very much difficult to concentrate in demo, because there is no real money in here , for that reason after passing sometimes we traders lost interest.
This is why; cent type account sometimes plays a big role! But in my early stage of trading; I concentrated one and only demo; I have no complain on it!
  • #117
  • Aug 20, 2019 8:27am Aug 20, 2019 8:27am
Start very small and gain lots of experience and screen time. I am a firm believer of putting some skin in the game vs trading demo. You will never experience the emotions of trading on demo, you have to put money on the line even if it is only 0.01 lots.

Practice patience both in letting the trade play out and gaining trade experience over time.
  • #118
  • Aug 20, 2019 10:52am Aug 20, 2019 10:52am
I think that a period on a demo account - at the very least until one learns how to use the trading software well, and by "well" I mean instinctively, rather than trying to remember what each button does before they actually use it - is not a bad thing. But I do agree that training on a micro account can be very benefitial.
  • #119
  • Aug 20, 2019 1:22pm Aug 20, 2019 1:22pm
Quoting SentiFX
Start very small and gain lots of experience and screen time. I am a firm believer of putting some skin in the game vs trading demo. You will never experience the emotions of trading on demo, you have to put money on the line even if it is only 0.01 lots. Practice patience both in letting the trade play out and gaining trade experience over time.
practice and patience both are important but without long time practice there is no way to control patience and emotions, on the other hand , generally in demo we feel tired when practicing , because no real money there is, after all its a complicated issue between demo practice and emotions.
  • #120
  • Aug 4, 2020 3:50pm Aug 4, 2020 3:50pm
As a trader, I can advice you to make your trade profitable by making a profitable strategy. On the other hand, you need to choose a good and regulated broker for you to trade in the forex market.
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