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Demo contest is a good idea to test how good we are but of course we must be getting used with our strategy which we practiced on demo account. Usually traders who joined the demo contest ranging from 3 months up to unlimited. Demo account is useful so people need to use it with their fullest, in order to maximize the forex trading experience.

The price of Cocoa futures on ICE in the end of trading late Friday (09/06) closed up. The increase in cocoa prices is supported by the purchase of cocoa by Ghana. Ghana will start purchasing small cacao plants on Friday and will maintain the price at which it bought peanuts from farmers at 7,600 cedis ($ 1,914) per ton, industry regulators Cocobod said on Wednesday. Cocobod has projected to buy about 70,000 tonnes of grain through a mid-harvest harvest typically 11 weeks that is discounted to local grinders. At the end of trading, cocoa futures contract is closed by posting an increase. Cocoa closed by 6 dollars or 0.30 percent at 1989 dollars per ton. Analysts expect that cocoa futures prices for subsequent trades are potentially weak if the strength of the US dollar is realized by the testimony of former FBI director James Comey. For next session, cocoa futures prices may potentially will break the Support level at 1.940 dollar.

Tocom rubber prices moved up helped by the weakening Yen. For overseas buyers the weakening of the yen makes the commodity prices traded in the currency become relatively cheaper so that demand increases. The price of natural rubber at Tocom for the most active contract for the November 2017 contract this afternoon moved up by 5.6 yen at 187.20 yen per kilogram, this is way higher compared to the previous trading closing at 181.60 yen per kilogram. Analysts expect that Tocom rubber price movement for next session still potentially to strengthen with the weakening of Yen. For the next trading session the price is expected to meet resistance level at 192.00 yen. The next resistance is at 197.00 yen.

Tin prices on the Malaysian stock exchange fell on Friday trading (08/06). Weakness of tin prices weighed on US dollar hikes overnight. Last night Pound fell after Conservative Prime Minister Theresa May's party failed to win a majority vote according to UK exit polls. The price of tin was observed weakening today. The price of the industrial metal is trading at 19,180 dollars per tonne position, down by 370 dollars or 1.9 percent from its previous close of 19,550. For this week the price of tin plummeted 6.1 percent. Analysts expect that the movement of Malaysian tin prices in the next trade session may potentially weaken limited if the strengthening US dollar continues. The price will face the support level at 19,000 dollars and 18,800 dollars.

CPO price on Malaysian commodity exchanges was observed higher on last afternoon trading. This afternoon's CPO price rise ignored bearish sentiment for the strengthening of the ringgit and by the weakening of crude oil. The rise in CPO prices triggered investor to do bargain hunting after CPO prices slumped around 2 percent this week. CPO price appears to have risen. The contract price of August 2017 which is the most active contract rose by 15 dollars and traded at 2,459 ringgit per ton. Analysts expect that the movement of CPO futures prices in subsequent trades will potentially strengthen if the bargain hunting action continues, overshadowed bearish sentiment because of the strengthening Ringgit and weakening of crude oil.

CPO price on Malaysian commodity exchanges was observed higher on last afternoon trading. This afternoon's CPO price rise ignored bearish sentiment for the strengthening of the ringgit and by the weakening of crude oil. The rise in CPO prices triggered investor to do bargain hunting after CPO prices slumped around 2 percent this week. CPO price appears to have risen. The contract price of August 2017 which is the most active contract rose by 15 dollars and traded at 2,459 ringgit per ton. Analysts expect that the movement of CPO futures prices in subsequent trades will potentially strengthen if the bargain hunting action continues, overshadowed bearish sentiment because of the strengthening Ringgit and weakening of crude oil.

For beginner i would agree with you but actually that is still a good place for experts. With demo account you can learn something without need to risk everything, you just spend your time just like when you trade in real account, overall it is quite hard to earn money without knowledge, so demo account is the most suitable place to do that.

That is a risky movement, it is better to lose now rather than waiting but lose more. Money management teach us how to use stop loss effectively which resulted in better trading result where trader able to control the risk without need to worry much about their trading, also the allocation of lot is the part of it.

In demo account we will be able to get experience which we long for and also without any risk behind of it. Practically, it is like safe haven place for trading but in the end everything we risk for there is not the real, so people still flock to the real account first. rather than in demo account, i even saw few people who said that demo account is nothing LOL

Who doesn't want to get profit and more profit? If you able to increase your profit rate would you risk your trading for that with a guarantee rate about 90%? I would surely. Greed is bad if uncontrollable but when it is something you can control and overcome you will be able to be a better trader who know what to do with your trading.

This is wrong, i think psychology trading is matter of perspective. If you programmed your mind to think that demo account as real trading you can achieve nearly or even the same result. Feeling of losing or something like that could be emulated in demo account unless you trade in demo account without any 100% feeling want to be a good trader in future.

It is true that we can only control the market, but some traders still insist to believe that we can eradicate this impossible thing to eradicated. It is not necessary to destroy our trades, it will be something that can destroy us if only we cannot control it, as far as i know the best way to learn how to control our emotions only by practicing.

I agree with upul here, the best way to secure the deposit you made is by trade in a regulated broker, and not just regulated broker i think. My own regulated broker must be regulated by a strong and strict regulator, or a bit less strict but still considered to be strict enough and not a lax regulator. This is to give more guarantee that broker won't make any kind of illegal activities with our money or scamming us.

In order to get more experience from foreign exchange in demo account somebody should spend enough time, the exact time you need to spend is actually various to each traders, some prefer longer like years or shorter just in few weeks for example, but i think 6 months with intensive trading is enough.

I don't get what is the correlation between your posts and this thread title, but when do scalping people don't care when , it is all about the condition of the market. If the market is pretty much calmer with few spreads that is when we start to take a position and trade with our scalping techniques, so the key here is the condition itself not when you all should trade.

By using common sense we already know about this one, if everyone just said cannot experience loss, you won't find any news or review or post which are talking about how they lose their money and trading and the bank would overflow with the profit but simply not. Forex nature is risky and the risk means that we are about to lose, so it is normal everyone can experience lose, what they should do is to learn from it.

See, right? We should control the emotion not to eliminate it, since we are human we can put our emotion on the other place while we focusing ourselves to trade, also with emotion controlled we can lower the bias when it comes to take a decision. In the end, it is a trade with good emotions control which successfully making the profit.

It is all depend, thousand of dollars is the ideal amount for traders to go with scalping. But let me elaborate here that what i mean here is total capital in your account not the amount of lot size you should use, but if this is all about the amount of the lot size then 0.1 lot is fine for minimum amount of money we should go for scalping.

Discipline indicated that a person or in this case a foreign exchange trader is a good trader who trained enough and has experiences. Why i said it is important because without discipline a trader is a newbie, they trade with one purpose which is making money but don't know how to reach that purpose or even worse without they know turn away from that purpose

Basic things to say but i must agree with your post, the thing which i want to imply here is no matter how risky foreign exchange is there will be one or two way to avoid much risk, you can say that as the way to lowering the chance of traders to lose more money. Spend what you can afford is a good philosophical way to follow and don't bet here.

Candlestick without doubt change the way we trade in forex, especially with technical analysis and this strategy proven to be an accurate one with the ratio up to 70%. We can use candlestick chart to identify the market trend and to be an indicator when we want to take an opening position and the closing position(if we prefer cut the profit/loss manually).

I do agree with that but the problem is how long? There are some HYIPs that keep paying for one month or even one year or more. They paid instantly or in relatively shorter duration which increase the confidence from its investors. If you see the chance in this event, you can grab more profits by investing at the right time. You can applied it on forex, but with a bit modified parts like open a position at the right time which i am sure drastically reduce the risk.

If that is the positive gap then it is a good thing, most people will love it including especially when the gap from the closing to the opening is around hundred pips . But it is hard because we don't know about the gap will happen or not, it is full with uncertainty which makes us don't know what to do.

I think that is true, the hardwork will elevate our position to the different place if we do it right. I also agree that making a good profitable trading is not an easy task and practice like you said could make us better. In the end this has no correlation with demo account contest but as the part of training i think all traders should try at least once of the demo account contest, it is worthy especially for newcomers.

Money management and Stop Loss are linked to each other, SL is the part of Money Management which is the broader part of trader to learn about how to control the money which is the main risk. Stop Loss also must be included in the lesson to control the risk which may lower our chance to gain more profits.