Demo Account Trading : Must For Newbies
As everyone know forex is one of the biggest market in the world. But its too much risky . Many trader go bankrupt . So trading without preparing yourself is dangerous.
Demo account trading is the best option available for learning and getting introduced to the trading environment,platform and the market. Trading is on virtual money,so you can trade without investing and risking your money. Spending quality time on demo account helps to develop skills and new strategies. Any mistakes are bearable in demo as no real money involved.All the things in demo are same as that in real account. So once trader get familiar with the environment then it becomes easy to trade.
Not just for newbies,demo account are useful to experts too. Every time they come up with new strategies and EAs . So for testing those,demo accounts are best.After good results those can be implemented on real account.
But there are some disadvantages too . In demo account no emotions are involved in trading . But in real account the term " Emotional Trading" plays vital role . Controlling emotions is most difficult part of real trading . Its natural too ,because big money is involved. This can be controlled with time and experience.So its clear that though you are successful in demo there's no guarantee of success in real trading.But demo trading makes it clear if you are comfortable with trading or not.Also one more drawback is if someone gets addicted to demo account trading , then carelessness can lead to major losses.
Anyways demo account trading is must for all new traders . Open account with any broker . Almost all the brokers offer free demo account . Learn and try your skills on it , if your performance is good enough then only move to real trading or else practice more.
Demo account trading is the best option available for learning and getting introduced to the trading environment,platform and the market. Trading is on virtual money,so you can trade without investing and risking your money. Spending quality time on demo account helps to develop skills and new strategies. Any mistakes are bearable in demo as no real money involved.All the things in demo are same as that in real account. So once trader get familiar with the environment then it becomes easy to trade.
Not just for newbies,demo account are useful to experts too. Every time they come up with new strategies and EAs . So for testing those,demo accounts are best.After good results those can be implemented on real account.
But there are some disadvantages too . In demo account no emotions are involved in trading . But in real account the term " Emotional Trading" plays vital role . Controlling emotions is most difficult part of real trading . Its natural too ,because big money is involved. This can be controlled with time and experience.So its clear that though you are successful in demo there's no guarantee of success in real trading.But demo trading makes it clear if you are comfortable with trading or not.Also one more drawback is if someone gets addicted to demo account trading , then carelessness can lead to major losses.
Anyways demo account trading is must for all new traders . Open account with any broker . Almost all the brokers offer free demo account . Learn and try your skills on it , if your performance is good enough then only move to real trading or else practice more.
