savehouse Posted April 30, 2013 Share Posted April 30, 2013 the best place to practice with Forex remain with the demo account,any trader thinking he/she can learn how to trade without spending much time with the demo account will only end up losing his money,even the so called professional forex trader trade with the demo account when they want to practice a new trading strategy. Quote Link to comment Share on other sites More sharing options...
standart Posted May 1, 2013 Share Posted May 1, 2013 after trader able to gain confidence during trading in demo account, trader need to keep continue practice trading in live account. with small capital only. the purpose is to measuring their psychological condition trading in live account. whether they able to keep calm or not. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted May 2, 2013 Share Posted May 2, 2013 That's not practice in live account, you are already making real trading and therefore, it's not practice anymore. What you meant to say is that even though you are doing live trading, you will still continue to have practice or demo account when there's need to change in your strategy or need for improvements in your trading. And we know that it's a cycle. Quote Link to comment Share on other sites More sharing options...
humanhope Posted May 5, 2013 Share Posted May 5, 2013 With the demo contest we can actually learn how to get the most profit using the strategy that we have and how we can prevent losses so that in the end when we had to start trading using a real account can be properly read price movement and establish the position of trade. Quote Link to comment Share on other sites More sharing options...
Jeremi Posted May 8, 2013 Share Posted May 8, 2013 Practicing is very useful, while practicing we may be trying different techniques and so may make losing trades most likely, and for that reason demo accounts are best way to make practice until you get confidence enough to trade on real account. Quote Link to comment Share on other sites More sharing options...
humanhope Posted May 8, 2013 Share Posted May 8, 2013 Well, While practicing we may be trying different techniques and so may make losing trades most likely, and for that reason demo accounts are best way to make practice until you get confidence enough to trade on real account. Quote Link to comment Share on other sites More sharing options...
pepy Posted May 8, 2013 Share Posted May 8, 2013 For sure and we cannot deny that thing, the best place without risk is Demo account, but remember you will lack psychological side there, it will not give you any pressure, and will make you relax. it will make you more easier to trade, but some prefer real account since there is a place where they got real pressure. Quote Link to comment Share on other sites More sharing options...
myfxcontest Posted May 9, 2013 Share Posted May 9, 2013 For sure and we cannot deny that thing, the best place without risk is Demo account, but remember you will lack psychological side there, it will not give you any pressure, and will make you relax. it will make you more easier to trade, but some prefer real account since there is a place where they got real pressure. Â yes makes a lot of sense, Demo account should be the first step. and how about forex demo contests? IMHO demo contest is a good way to practice trading skills and same time a chance to get real cash award Quote Link to comment Share on other sites More sharing options...
Jeremi Posted May 9, 2013 Share Posted May 9, 2013 About me, such a contest would be a great one since apart from we having the chance from learning, we also have the chance of being an eventual winner but my question would be if one could use a mobile to participate in the contest but sincerely it should be a great one. Quote Link to comment Share on other sites More sharing options...
indieover Posted May 9, 2013 Share Posted May 9, 2013 I don't see any problems if you would use your mobile phone for trading or forex contest as long as your phone working be compatible for that. So I think that it would be very wonderful to use a phone for that as I think most brokers would support now mobile trading. Quote Link to comment Share on other sites More sharing options...
humanhope Posted May 9, 2013 Share Posted May 9, 2013 For sure demo trading contest did very well as a place to practice because of the contest demo we will be more passion to improve the ability we have because there is so much competition in the demo contest and we will try to better in order to become a winner in the contest demo. Quote Link to comment Share on other sites More sharing options...
sakai Posted May 10, 2013 Share Posted May 10, 2013 i think that the best place to practice the Forex trading is by using the demo account here. And the next thing also, we can try to use the free money, like from the forum or from the broker's bonus to open the real account to trade on Forex here. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted May 10, 2013 Share Posted May 10, 2013 I have read this same statement I wonder it is. Again, Free money is different from the forum incentives or bonus for posting. You aren't having here free money because, the bonus you will receive isn't convertible to funds and will be equal to your trading capital in your account. And the demo accounts do have use of the virtual funds and still not free money. Quote Link to comment Share on other sites More sharing options...
pepy Posted May 10, 2013 Share Posted May 10, 2013 About me, such a contest would be a great one since apart from we having the chance from learning, we also have the chance of being an eventual winner but my question would be if one could use a mobile to participate in the contest but sincerely it should be a great one. what kind of contest? you mean demo account contest? because as far as i know the only contest that exist only for demo account contest, which is easier to join because many traders will doing so well in that account, in fact there are a lot of traders that join the contest and some of them still winning the contest. Quote Link to comment Share on other sites More sharing options...
sakai Posted May 11, 2013 Share Posted May 11, 2013 About contests in market practice, It will be only very useful if that contest is to have many winners but if that is only few who will become winners then, we can say it's more of very competitive contest and not really good to make it as practice. Usually, we have these trading contests as sort of practice since we are in the demo account. Quote Link to comment Share on other sites More sharing options...
RodWell Posted May 11, 2013 Share Posted May 11, 2013 Demo account is quite good to practice Forex trading and know the mt4 terminal well and also get acquainted with the behavior of various currency pairs. However profits made in a demo account does not necessarily indicate that we have learnt quite well about Forex and acquired enough knowledge and skills to begin actual trading. Quote Link to comment Share on other sites More sharing options...
pepy Posted May 11, 2013 Share Posted May 11, 2013 About contests in market practice, It will be only very useful if that contest is to have many winners but if that is only few who will become winners then, we can say it's more of very competitive contest and not really good to make it as practice. Usually, we have these trading contests as sort of practice since we are in the demo account. In fact not all traders can win in contest, usually about 1-3 contestant that will win the money, but still demo contest is a good thing to learn while at the same time you also get real prize for your learning. and until now i see that mostly new traders prefer to trade in demo account. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted May 19, 2013 Share Posted May 19, 2013 Yes, just very few or small number of winners for a huge amount of participants. It can be attractive to have many participants but I don't feel that those trading contests will be worthy in a long time unless they have given more chance for the other traders that are not so competitive. But still the purpose of it is to have your skills practice in demo. Quote Link to comment Share on other sites More sharing options...
budado Posted May 19, 2013 Share Posted May 19, 2013 Its good to practice in both demo and in real account. In demo account some how its best if we going to trade in here what we still want to learn while in real account we practice what we already learned. Soon if we are confident with our trading strategy in real account we can simply just make something good if we going to add more trading capital hoping to earn more. This is what I want to achieve right now. Quote Link to comment Share on other sites More sharing options...
Samar Posted May 20, 2013 Share Posted May 20, 2013 About me, I think we would be beating around the bush if we go ahead to say that there is another place to learn forex. The best place to learn forex that has been tried and tested is the demo account. We have an 100% chance in there to practical's forex. Quote Link to comment Share on other sites More sharing options...
pepy Posted May 20, 2013 Share Posted May 20, 2013 About me, I think we would be beating around the bush if we go ahead to say that there is another place to learn forex. The best place to learn forex that has been tried and tested is the demo account. We have an 100% chance in there to practical's forex. actually you can use real account if you want to sacrifiec just $10 or quite a bit, then you can start to trade in real account, but just trade with small amount of capital, there you will feel pressure, greedy, and any other thing while learn which make your practice more effcient and you don't have to waste so much time. Quote Link to comment Share on other sites More sharing options...
Samar Posted May 24, 2013 Share Posted May 24, 2013 With the demo contest we can actually learn how to get the most profit using the strategy that we have and how we can prevent losses so that in the end when we had to start trading using a real account can be properly read price movement and establish the position of trade. Quote Link to comment Share on other sites More sharing options...
adnan007 Posted June 1, 2013 Share Posted June 1, 2013 Now a days, almost all of the forex brokers offers demo trading in order to get used with their trading instrument. I would rather advice you to practice with that broker whom you will be willing to choose once you have completed your learning phase. This will help you as you already have used their instrument and know how it works... Quote Link to comment Share on other sites More sharing options...
gaban Posted June 1, 2013 Share Posted June 1, 2013 With a demo account, we could optimize the basics of forex trading, analyzing the market well. Nevertheless demo account if used properly it can make us grow as well. That is why, use a demo account as well as possible. Quote Link to comment Share on other sites More sharing options...
pacifist Posted June 2, 2013 Share Posted June 2, 2013 I think best place to learn about Forex is to open a demo account and make practice by the demo account. It give opportunities like real account and it give high amount of free money to practice. There are many sites online who are giving demo account. Quote Link to comment Share on other sites More sharing options...
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