I am getting 10% daily return on my Forex Demo account. Need Advice.
Like the title says, I am doing crazy good on my Forex demo account. I want to know is this sort of thing common and will it all completely change when I make a live account. For some background I have been only studying Forex for about 2 weeks but during those 2 weeks I have not stopped learning. I came across a strategy that is now making me 10% returns per day and I'm fairly sure I could make that number higher with more practice. Any advice with this would be much appreciated.
Practical learning is times better than visual, theoretical learning. This applies incredibly well to Forex trading. No matter how many blogs you read and how many videos you watch, no learning experience comes close to Forex demo trading. A Forex demo account simulates real-time trades that currency players can learn from. Learn more from here.
does anyone here use forex demo accounts? what do you recommend?
Hi folks, I'm looking at signing up for demo or play account for forex trading for educational purposes. I know that it's high risk and the many see it as gambling, so I would never risk money that would leave me unable to sleep at night(hence, I would like to try the play account first). Note: I have an emergency fund that I do not touch other than in case of job loss, as well as ETF index funds that I continually contribute to(and I have become very prissy about maintaining monthly allocations), so I would never use more than my entertainment money if I were to trade in real life =) I'll also be signing up for the ASX sharemarket game for entertainment/educational purposes. So, does anyone know of a good demo/play forex account? What amount of cash do you limit for your forex trading if you were using real money?
Practice accounts are designed to teach Forex trading. They are the same as the real accounts – you trade on the same terminal, see the actual situation of the market and get the real quotes. The main difference between the demo and the real accounts is that you trade virtual money, not real. Best Demo Accounts: Shortlist 2020. Our best forex demo accounts have been decided after in-depth research to make it easier for you to use the best ones. eToro is the best broker for non-US traders that wish to enjoy demo accounts with $100,000 in virtual money and access to various trading tools and features. FOREX.com offers a free $50,000 demo forex trading account with no risk and no obligation. Because forex demo accounts are supposed to simulate how trading live will be feel like with a real money trading account, they are basically the same in every aspect as with a real account ... The best forex demo accounts don't just sell you on their system, however. They should educate you on the forex market, simulate real-world trading and allow you to test different strategies. Demo accounts can help you learn your trading style – whether you are more comfortable with intraday moves or longer-term position holds, for example.
Forex Demo Accounts: What They Are and How to Use Them
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