I
f God had created a trial version of life before the actual life, it would have been so much better.
Don’t you think? Or do you think that many of us would have canceled after the free trial?
Like “Nah. I don’t like it enough to pay for it, I don’t want to live on the Earth”
Let’s leave this topic to philosophers and tell you the more exciting news:
SHOCKING NEWS: Life on Earth doesn’t have a demo version, but trading in Forex has one.
You can open a demo account for FREE with most forex brokers. These accounts almost have every feature that the real one does.
But why is it free?
The forex demo account enables a trader to simulate a live trading environment – without putting any real money at risk.
It enables a trader to start free online trading relatively quickly so that they can practice trading before risking real money.
But the broker doesn’t do it out of goodwill!!
This way it allows you to learn the ins and outs of their trading platform, and have so much fun time trading without risk and without losing money (almost like a game), so you’ll fall in love with them and deposit real money in no time.
The demo account allows you to learn about the mechanics of forex trading and test your trading skills and processes with ZERO risks.
Learn to control your emotions! It is a zero risk now, but if you decide that you are good enough after 2 or 3 times trading and move to a real account, there the loss won’t be zero!
You put real money, you lose real money!
There are a couple of things that you need to learn while trading on demo before you create a real account!
RULES:
1.
Do NOT open a live trading account until you are CONSISTENTLY trading PROFITABLY on a demo account.
2.
Euphoria and overconfidence can kick in after a few winning trades.
Frustration and doubt can kick in after a few losing trades.
These emotions can often CLOUD the trader’s JUDGEMENT on their next trading opportunity. Don’t open an account until you are in control of your emotions.
3.
You need to create and develop your trading strategies.
Start to recognise your own trading patterns after some time has passed, and you may even start to develop your very own trading system.
4.
Find the best trading routine that suits you!
The Forex market traders trade 24 hours a day, 5 days a week. So you need to develop a routine at what time of the day you will feel the most comfortable to start trading and only trading without doing anything aside.
The last thing you want is for this to lead to poor trading decisions, which lead to losses with real money.
Remember: Trading is a marathon, not a sprint!
We know that you are impatient and you will feel like the God of trading after a few successful transactions, but at least try the demo for a month!
You need to experience different market scenarios and environments before you start trading real money.
You can hold off losing all your money for a month right?
The sad fact is that we know you are not gonna listen to us and won’t wait a whole month before starting trading with real money, but at least we can give you one last advice:
Concentrate on ONE major currency pair.
Concentrate on the Dollar, for example.
You will need your focus on one place in the beginning!
It gets far too complicated to keep tabs on more than one currency pair!
Stick with ONE of the majors because they are the most liquid which usually means tighter spreads and less chance of slippage.
Whether it is for the demo version or for the real trading account, we strongly advise you to continue reading the articles before start trading!
In the first case, you don’t need to have the headache of roaming around in the demo version without knowing what is going on. In the second, you don’t need to actually break your head in the wall before reading how not to break your head and lose your money!
