Here I will discuss the importance of forex demo trading.
Nearly 90% of forex traders lose their money. But they are still looking for a simple forex trading secret to make money easily.
I think the main problem of losing money is novice traders never try to use a forex demo account. But on the contrary, experienced traders are testing and practicing their forex trading strategies on it.
It is important that "success comes from hard work and execution".
Therefore, I think beginners have to take forex demo trading seriously.
The following five forex trading tips are things that I wish someone had told you
First of all, many beginners only open a $100 live account, but they test the forex trading strategy on a $50000 demo account. So you must trade the same amount of capital in the forex demo account as will be traded in the live market.
Second, many beginners trade carelessly on forex demo trading. In fact, you have to write a forex trading plan, a forex trading checklist and keep a forex trading journal.
Third, many beginners just open or close a position on the demo account. As a matter of fact, you should develop a solid, profitable forex trading strategy while on forex demo trading.
Fourth, novice traders don't have enough patience to develop a new forex trading strategy on a forex demo account. In fact, you should make profit consistently on it over the past year.
In a word, Forex demo trading is very important for beginners.
Nearly 90% of forex traders lose their money. But they are still looking for a simple forex trading secret to make money easily.
I think the main problem of losing money is novice traders never try to use a forex demo account. But on the contrary, experienced traders are testing and practicing their forex trading strategies on it.
It is important that "success comes from hard work and execution".
Therefore, I think beginners have to take forex demo trading seriously.
The following five forex trading tips are things that I wish someone had told you
First of all, many beginners only open a $100 live account, but they test the forex trading strategy on a $50000 demo account. So you must trade the same amount of capital in the forex demo account as will be traded in the live market.
Second, many beginners trade carelessly on forex demo trading. In fact, you have to write a forex trading plan, a forex trading checklist and keep a forex trading journal.
Third, many beginners just open or close a position on the demo account. As a matter of fact, you should develop a solid, profitable forex trading strategy while on forex demo trading.
Fourth, novice traders don't have enough patience to develop a new forex trading strategy on a forex demo account. In fact, you should make profit consistently on it over the past year.
In a word, Forex demo trading is very important for beginners.
- You should take forex demo trading seriously.
- You should write a forex trading plan and keep a trading journal with the demo account.
- You should develop a forex trading strategy with the demo account.
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