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.
POSTING BERKAITAN
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