Sunday, July 11, 2010

First Time Under A Forex Demo

Almost all forex brokers offer demo accounts for free so you can check out their platform. It is always suggested to first trade under a demo account before trading live so that you understand what you are doing and gain confidence in your trading.

After you do begin with your real account it is important to begin using very low leverage. The most important focus of a forex trader should always be being mindful of risk.

While learning forex trading pay close attention to the importance of good money management as it is what separates the winners from the losers. Take your time and do not be in a rush to trade a real account until you understand how to make money.

Since there are no limits on demo trading you can take your time trading under a simulated environment for as long as you like before you open an account with a broker. Trade for at least three months of making consistent profits before making the jump to a live account.