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  #1  
Old 08-14-2017, 04:32 AM
adamsmiths adamsmiths is offline
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Default Why you should demo trade the market for at least three months

In the world of economic crisis managing your financial need is extremely difficult. People all over the world struggle very hard to earn their financial freedom. But despite working so hard very few people can have their financial freedom in life. To be honest, in the past we have very little opportunity to make money to improve our lifestyle. But due to the recent advancement in technology, retail traders like us can easily participate in the forex trading industry and trade the live assets. Since most of the reputed brokers like Saxo offer high leverage trading account, people can actually make a huge amount of money by utilizing the leverage. Just look at the professional Aussie traders and you will see that many of them have changed their whole lifestyle just by forex trading. But before you get fully involved in the trading world you need to learn the market details by using a demo trading account.

Gives you a clear insight of this market
The market is so profitable that very few traders can actually understand the risk in trading. In order, t become a professional trader you need to truly understand how the market works. For this very reason, you need to demo trade the market for at least three months. It's true that you can also trade with real money but you can be 100 percent sure that you will blow your entire trading account within a very short period of time. According to statistics, only 5 percent of the traders are making consistent profit in this market. So there must be something special among the successful traders in today’s world. Every single one them has demo traded the market for a very long period of time. They have worked hard to find the perfect trading strategy for them to make money. Once they felt comfortable with their demo trading performance they have switched to real life trading.

Allows you develop a perfect money management plan
Proper money management is often considered to be an essential element in forex trading. If you want to succeed then you need to learn how to take managed risk in trading CFD. The novice traders often execute high lot size in the real market and make one big winner. But in the long, they simply just wipe their entire trading account with some few losing trades. But if you trade the with demo trading account then you can easily realize how dangerous it can be when you trade with high lot size. Placing your trade by using the all the trading parameters will not ensure your profit. No matter what you do, you will often have some losing trades. So if you simply follow 1:2 risk reward ratio trades then you can easily afford to lose more trades and make money in the long term.

Helps you to identify your mistakes
Trading is just like doing any other business in the world. The professional traders always trade the market with the extreme level of precautions. If you want to make money in this industry then you need to play some tricks in this game. Always make sure that you are learning from your mistakes and if you do the same mistakes again and again then the industry is not for you. Develop a strong reading habit as it will enhance your trading knowledge. Being an active participant you must know when to place a trade and when to stay on the sideline. Professional traders always have complete control over their emotion then know that learning from their own mistakes is the key to success in this industry.

Summary:Currency trading is little bit complex and it requires an extreme level of knowledge in the financial industry. If you truly want to become a professional trader then make sure that you trade with your demo account for a long period of time until you develop yourself as a professional trader.
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  #2  
Old 08-16-2017, 05:09 AM
Ronsmith Ronsmith is offline
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Default Re: Why you should demo trade the market for at least three months

1.You're ready to make predictable benefits.

Making predictable benefits and winning ALL the time aren't the same. I'm willing to wager my iPhone 4s, MacBook Pro, and destined to-be-procured iPad 3 that there's not a solitary prestigious forex broker who can state that he hasn't lost a solitary exchange his whole exchanging vocation. Given the market's regularly changing economic situations, losing is truly part of the fight.

So on the off chance that you've lost an exchange or two this week, don't pummel yourself. Or maybe, concentrate on sharpening your aptitudes in discovering high-likelihood setups with good reward-to-hazard proportions and concoct systems that will enable you to limit your misfortunes and amplify your wins. An illustration would be Pipcrawler's Stop/Trail/Add system that enables him to make the most out of his triumphant exchanges while restricting his misfortunes.

Ensure you additionally screen your productivity on your demo account every month. That way, you'll know in case you're destined for success thus that it will be less demanding for you to perceive what you have to take a shot at.

2. You have obvious hazard administration decides that you adhere to constantly.

They say that half of your accomplishment in exchanging is controlled by your capacity to discover great setups. The other half lays on legitimate hazard administration. All things considered, having a well-thoroughly considered arrangement of hazard administration rules is additionally an unquestionable requirement have on my agenda.

There are times when the market goes wild, making you question your investigation and exchanging abilities. Amid these circumstances which test your mental durability, your hazard administration design might be the main thing that could secure your record.

Before you begin to consider going live, you should check yo' self on the off chance that you have a very much characterized set of guidelines which reveal to you when you've sufficiently lost or you've been exchanging excessively or disaster will be imminent, you'll simply wreck yo' self. In the event that you haven't sketched out your hazard administration manages yet, you can begin by including rate chance, the most extreme draw down you can endure, and when to quit exchanging after a progression of misfortunes in your exchanging diary.


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  #3  
Old 08-24-2017, 06:51 AM
FrankByMonster FrankByMonster is offline
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Default Re: Why you should demo trade the market for at least three months

I thought it's for getting closer and understanding the rules how it works. But it's much more. Thanks
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Old 09-05-2017, 07:34 AM
kirtimeliwal kirtimeliwal is offline
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Location: Indore
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Default Re: Why you should demo trade the market for at least three months

An investor has to do demo trade to test his profit earning capabilities and risk management skills in the market.
Three months demo trading allow a trader to gain knowledge about share market as well as it boost his profit earning capacity in the market.
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  #5  
Old 09-07-2017, 04:51 PM
Jeff51 Jeff51 is offline
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Default Re: Why you should demo trade the market for at least three months

I agree, 3 months on a demo account sounds about right, but only in the case that your results on the demo account are good. There is no point in opening a real account if you are still not able to make money on practise version.
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  #6  
Old 09-18-2017, 07:42 PM
Valz Miky Valz Miky is offline
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Default Re: Why you should demo trade the market for at least three months

Demo account is very important for knowing what strategy we use and also to figure out right broker. I made heavy mistake of joining with Instaforex without testing demo account and suffered heavily from it. So, it is absolutely must to test broker through demo account.
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