well, I don't think demo account is waste rather its a good option to have knowledge about how trading is done and have practice with it without losing a single penny.
How Forex Trade works?
- Thread starter BoroVai
- Start date
- Watchers 17
You can think that, but you can't learn how how to trade or gather knowledge without trading and you do not trade in a demo account. You can use a demo account as long as you wish and I am not asking you to stop.
The demo is not necessarily a waste of time, actually you can use it to familiarize with all the bangs and whistles on the platform and come up with an actual trading strategy.
And once you're sure you know everything or at least, confident you know what's required move on to micro, live.
And once you're sure you know everything or at least, confident you know what's required move on to micro, live.
Forex is not easy. You can earn much money..otherwise you can lose much money too.
As pointed out earlier, Forex trading is not easy..who the heck goes around, saying its a breeze? The only ones doing rounds while claiming that forex trading is easy are the ones doling out snake oil pitch in the hope of getting newbies to buy their EA..bleah
Demo account is a good place to hone our trading skills. And you are right, while we are practicing our trading skills we do not have to worry because we cannot lose even a single penny.
Forex trading is typically done through a broker or a market maker.
As a Forex trader you can choose a currency pair that you expect to change in value and place a trade accordingly.
For Example-
-If you had purchased 1,000 Euros in January 2005, it would have cost you around US$ 1,200.
-Throughout 2005, the EURO’s value vs. the US dollar’s value- Increased.
-At the end of the year 1,000 Euros was worth USD 1,300.
-If you had end your trade at that point, you would have gained USD 100.
• Forex trades can be placed through a broker or market maker.
• Orders can be placed in just a few clicks and the broker then passes the order to a partner in the Interbank Market to fill your position.
• When you close your trade, the broker closes the position on the Interbank Market and credits your account with the loss or gain.
• This can all happen literally within a few seconds.
As a Forex trader you can choose a currency pair that you expect to change in value and place a trade accordingly.
For Example-
-If you had purchased 1,000 Euros in January 2005, it would have cost you around US$ 1,200.
-Throughout 2005, the EURO’s value vs. the US dollar’s value- Increased.
-At the end of the year 1,000 Euros was worth USD 1,300.
-If you had end your trade at that point, you would have gained USD 100.
• Forex trades can be placed through a broker or market maker.
• Orders can be placed in just a few clicks and the broker then passes the order to a partner in the Interbank Market to fill your position.
• When you close your trade, the broker closes the position on the Interbank Market and credits your account with the loss or gain.
• This can all happen literally within a few seconds.
Fores is easy for trader that have huge balance and good trading strategy. My friend have prove this and he never lost their money in forex trading. He use EA and VPS in liteforex broker, his trading strategy never affected by Big News. its resistance with.
