Why do you need practice forex trading

Practice forex trading – work on the Internet or a game? Beginner Forex traders often ask this question. Experienced traders, however, absolutely do not care what others call what they do. Professionals enjoy cash profits, rather than coming up with a name for the stock trading platform.

But to get confused, we will conditionally call everyone present in the Forex demo market “players.” They are very, very different.

Type of player trader

Some people enjoy the game. Such people can lose their fortune and never stop. And then make new trading platform bets to recoup. What can be said about them? Perhaps nothing but regret that they are. As a rule, such traders choose a demo account for themselves.

Type of trader – emotional player

These people are not subservient to their own emotions. Such people, seeing that nothing works in the Forex demo currency pairs market, get negative experience, and leave. They go to another sphere – to where they receive it. And ultimately they become true professionals in their field. Such people are not interested in demo accounts, as some functions may be invalid in these practice accounts.

How can you predict the movement of the foreign exchange market

Are there any forecasts for the evolution of the foreign exchange market if there is no confidence in their behavior in the event of a trading failure demo account? We think that you already know the answer to this question. “No way,” you say, and you will be right. So we will write it down, the first rule of the Forex demo trader is a peace of mind and complete self-control. For restlessness is the enemy of common sense.

Forex Trader Must Have A Trading Plan

A clear plan of action when changing the trading forex rate, or when moving at a given trading rate. Plan your trading activities so that the exchange rate reversal is not a surprise to you. Develop your practice forex trading system in a demo account. Rules of action and behavior in certain trading situations to a demo account.

Experience in the forex market

This is the biggest goal few Forex demo traders reach. A new Forex demo trader hit a couple of times, revels in his professionalism. And then, for a couple of unsuccessful trading account transactions on a demo account, it loses most of its deposit. And of course, disappointed. Because he was not ready for this. The newcomer had no plans to fail. He did not think at all about what to do if the currency market turned in the other direction, or the wrong trading position was opened practice account. Therefore, I recommend using the so-called stop orders.

What to do for beginners

Larger time frames for a retail trader practically do not carry important information about creating demo accounts. It is because of the inexperience of begin that it is recommended to start a demo account. Beginners should remember that to begin a trading career successfully, you need to go through a suitable practice trading.

Causes of failure – inside the trader

Numerous ubiquitous advertising of Forex brokers is trying to convince us that trading on the market is an easy and effective way to earn a lot of money and increase your capital. However, in practice, everything complicated. Only a few foreign exchange beginners turn into successful, experienced traders.

  • The exact figure of what percentage of beginning traders only lost their money on Forex demo is known only to their forex brokers.
  • They usually keep this information secret or distort the real picture.
  • According to traders themselves, only 2 to 10 percent of newcomers achieve the ability to make money in the foreign exchange market over time consistently.
  • Do not be afraid to create a demo account for the first steps in a trading account.

This situation is far from being associated only with the objective difficulties of market trade. Unfortunately, recipes for successful trading account often contradict the natural model of human behavior. Fear, greed, inability to admit their mistakes – all this leads to losses and ruin of a lot of people trying markets using a demo account.

Individual trading platform training with Dowmarkets

Online trading platforms training is a progressive teaching methodology, when the student is alone, in a cozy, familiar environment, for example, at home, and the coefficient of his / her material acquisition becomes as high as possible. And for a successful start, you will need a demo account.

Conclusions and recommendations

Virtual money occupies a leading position in the world markets, in connection with which interest in them is significantly increased. So, you want to earn more, but you doubt the profession of a crypto currency pairs trader? Imagine how you could live and what you would allow yourself as a successful trader.

Having decided to become a successful trader, you must:

  • choose a good broker;
  • assess all possible and potential risks;
  • if possible, find a worthy mentor (in our case, these are representatives of the trading platform company Dowmarkets);
  • register on the official website of the company- https://dowmarkets.com to gain access to useful options and materials;
  • create a personal demo account to start earning.

Remember that opening demo accounts does not require additional costs and always benefits all newcomers to trading platforms. And the practice trading with Dowmarkets will very soon bring success and prosperity to your life. If you want to plunge into the world of virtual money, Dowmarkets is waiting for you!

Posted: 3.07.2020 | Ludmiła Gorodnichenko
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