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Is Demo Trading Worth It
There is a perennial debate among FX traders over the value of demo Forex trading.
Some traders swear by it and say it is the best way to get used to trading Forex before going live.
Others say it is a waste of time and nothing like the real thing. So, is demo Forex trading worth it?
It absolutely can be, but it all comes down to your attitude and how you approach it.
Understanding Market Movement
Demo Forex trading is a great way to learn about the markets. Demo accounts teach you how price moves, how different instruments are correlated and the ways in which news releases impact price.
Studying the Forex markets on a demo account is absolutely the first step all FX traders should take. That applies whether you are placing demo trades or not!
You have to spend time studying the charts. It’s as simple as that!
It’s the best way to learn how to use basic technical analysis elements. These include support and resistance, trend lines, indicators, Fibon...
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