Yes, you are right you have to gain knowledge by trading demos. It is possible to get an idea about many strategies.
You need to trade what suits your personality and risk tolerance and that you can be consistent on. Do all the risks and push out the edges on demo. You know that as soon as you move onto a real account trade very small 0.01 to prove you are consistently profitable before slowly ramping up the lot size.
Your goal here is not to make money but to stay with your system as you handle fear and greed.
Hope this helps.
Rakingitnow
When i was a Newbie Forex trader i was making use of the Demo trading accounts for learning and also for testing the New Trading Systems.
what the hellās going on in this thread?!
the original question was the only post ever made by the person who asked it
that was back in April 2018 and he hasnāt been here at all since May 2018
the only two people posting above who said anything useful or helpful at all (āanon98339083ā and āanon7386331ā) are also long gone, apparently, and even their profiles canāt be seen (?!)
the rest is just rubbish
maybe the mods would like to close the thread now?
well i hope it worked for him because that is very similar to what i am working on.
Demo account is a very important thing. Many experienced traders still use demo account for backtesting their strategies or try out new methodologies.
Have to agree on this. Demo trading is a great way to test your strategies.
I think our words were a bit off-topic, however. But in the first question, he is talking about demo trading. So whatever.
Number 1: Since you will not be accepting new trader scalping. Better to trade with a long time frame. The profitability ratio will be good. And always trade by maintaining a 1: 2 risk ratio.
Number 2: The percentage of money that can be earned in a week will depend on emotion and trading analysis, but if you want to make a consistent profit, you have to follow money management.
Your forex trading journey is not going to be easy. You will have to do calculations and market analysis every time you trade.
When it comes to day trading Forex, the only right path is to not do it. Donāt waist 2.5 years of your life like i did. The game is rigged completely; from your broker, to the banks, to the financial news experts, to probably even this web site, itās all rigged for you to give away your money.