Forex trading is surely not for everyone. But you never know that if you haven’t tried it. The best way to try forex trading is using demo accounts. They are free, and packed with real life market conditions. So, let’s learn what we can about the best demo account in Asia 2020.
Why do forex brokers allow free demo account?
What brokers want when you allow you to open free forex demo trading accounts is:
- You can apply those features into your own trading.
- Learn how to enter an order, close an order
- Learn to Take Profit – Stop Loss
- Learn basic self-analysis
- Test your trading skills before trading with real money.
- It is expected that when you open a real account, you will trade with the Broker you are trading with Demo.
You can trade Forex demo until you have built a profitable and reliable trading system before you even think about putting your real money into it.
Do not lose your money
Always keep in mind that it is imperative to Persevere with demo trading until you build a profitable and solid Forex trading system before you can actually deposit funds to trade.
If you cannot wait until you have profit on your Forex demo account, at least trade for 2 months with a demo account. And at least you have to not lose all the virtual money you have for 2 months.
If you are unable to hold a demo account for 2 months, it is best … continue the Demo or give up the intention to immediately deposit money to join the Forex market. Because sooner or later, you will burn all that money for the Forex market only. The fun term we often call it FIRE ACCOUNT.
Trade and track only one main currency pair when trading with a demo account
If you find it too complicated to keep track of multiple currency pairs during the beginning of your trading session, you should pay attention to only one major pair – major pair – because this pair will be liquid. high and low spread.
You can read the article: Commodities of the Forex market in this article lists the main currency pairs – Major Pairs, the sub-currency pairs (Minor Currency Pairs), and the foreign pairs (Exotic Pairs). .
Set up your mind: forex trading is not a way to get rich quick
Before starting to trade with a Forex demo account, as well as a real Forex account, and learning more about analytics forex market, you need to accept some of the following issues:
YOU SHOULD SEE MORE: HOW TO USE FOREX DEMO ACCOUNT FOR BEGINNERS
All investors have been at a loss in forex trading
90% of new investors are at a loss for reasons like no specific plan, no knowledge, no discipline or a bad capital management rule.
If you don’t like losing or you are an overly perfectionist, you may spend a lot of time adjusting your trades because all investors have at least lost a certain order in during my trading hours
Forex trading is not for everyone
Forex trading is not suitable for the following subjects:
- People without jobs
- Low-income person
- People with debt
- People who cannot afford the small expenses in life like electricity and water
You should have at least 10,000 usd trading capital – the amount you can lose. Don’t think that you can start with a few hundred dollars and then become a millionaire.
The forex market is one of the popular markets for speculators, based on the size, the liquidity and the currency pairs that tend to move. The number of successful investors is small, while the losing investors usually account for more.
The problem is that many investors always hope that they will become billionaires quickly. But in fact, they lack the discipline needed to learn the art of trading.
If you cannot be disciplined, how can you succeed in the forex market full of difficulties but full of profits? Trading forex is not a way to get rich quick. Trading forex is a skill that we need very long time to learn. If this market can help get rich quickly, maybe everyone in this world is a billionaire already.
Always remember the best demo account in Asia until you find a method that’s right for you. At that time, it’s still not too late for real transactions. It never is.