Yes You Can Start Trading Forex For Free

Yes, You Can Start Trading Forex for​ Free!
Yes, it’s true, you can trade the​ forex markets for​ free and​ using the​ same state-of-the-art software packages that professional Forex traders, around the​ world, are currently using to​ make real-time, live currency trades.
And you can also experience the​ same dynamic market action and​ go through the​ same process of​ making decisions based on breaking news, reacting to​ charting patterns, and​ tracking ones performance the​ same way professional Forex traders do.
And all this can be done even if​ you don't put any real money into your account, you won’t see any difference in​ how the​ market behaves and​ how you react to​ the​ market .​
In short, at​ some point, every new forex trader needs to​ start Demo-trading.
Once you start placing demo trades, you will learn a​ lot about how Forex transactions are placed .​
I​ can’t emphasize you enough, that this is​ a​ very important step for​ you in​ order to​ be able to​ learn how to​ become a​ trader .​
a​ demo account allows one to​ become familiar with trading procedures, such as​ placing Market, Limit, Stop, OCO Orders without any risk .​
All dollar losses or​ gains on a​ demo account are imaginary but, as​ mentioned above, the​ trading experience you acquire is​ not .​
You should notice that making big gains in​ a​ demo-account does not guarantee profits in​ live trading; however, those who are not successful trading on paper rarely are successful when money is​ on the​ line .​
So, yes, just playing around and​ getting familiar with a​ demo account can be a​ great learning experience; however, you will not learn how to​ become a​ trader this way .​
You need to​ have a​ trading strategy.
Once you sign up for​ a​ mini-demo account, you will need to​ try one of​ the​ trial charting packages from the​ broker you choose .​
Any demo software you choose will do because they all have the​ necessary indicator tools you need .​
Once you have downloaded the​ software you can then set up your demo account and​ start drawing trendlines, marking support & resistance levels, monitoring moving averages, etc .​
This is​ also a​ very good way to​ get used to​ how orders are placed .​
Once you have a​ real trading system, you will already know how to​ place orders properly.
And remember, everyone makes mistakes placing orders .​
So you need to​ experiment before in​ a​ demo account so you can make your mistakes without losing any real money.

You Might Also Like:

Powered by Blogger.