Hello,
My name is Globalpips and I’m brand new to the world of Forex trading. I’m currently using my iPad 2 to write this post. Can anyone suggest a good app that would allow me to demo trade for free?
Thanks for your time.
give fxcm mobile platform a try
In addition to that, you might also want to check out babypips school, since you’re brand new. Good luck! And most of the top end brokers do provide mobile access…
Thanks to both of you for your advice.
Welcome to the world of forex. You need to learn so many things. There are so many valuable threads here in babypips/ Please refer those to get good knowledge. You can start demo trading using MT4 and web trader platforms offer by the thousands of brokers. Please check.
I realize that this is somewhat of a subjective question, but in your opinion, how long should I wait before starting to trade with real money? I was thinking about taking 1 year to learn before trading with real money.
Global, please search the forum a bit… There are loads of threads about that… You are not the first to ask that…
um…when you think you are ready, you can start live
before you do a demo, try manual backtest of your strategies first
learn and absorb as much as possible, im assuming you’ve already went thru babypips school already right?
dont fear losing, dont get arrogant winning
1 can demo for years but it’s never the same as live
quotes are different
mentality is different…
your mindset is very different when the money is on the line
if you go live, risk no more than 500$ as your starting fund
main tip for a newbie is dont overtrade/overleverage, it’ll kill you
your main goal is to learn and survive and not to make money
once you survive for perhaps a year, you can start aiming at trying to make money
It depends on the individual trader, some of us jump into it and start trading with real accounts right away (and lose a big chunk of the dep). So try it out with the demo until you think you are ready…usually around the time you start making some profits…good luck!
You can go to FXCM or hotforex which gives free demo account to practice.
yes . you have to begin in demo trading . make sure that you start there before jumping into the real aco**** otherwise you’ll be lost and you’ll loose your money . reason being that you’ll be able to make small losses if any with small money
To me, any well-known brokers as Hotforex or fxcm as you mentioned have good demo trading also live trading. Give them a try and you will begin to learn how to trade
Pepperstone is good. I haven’t had any problems with them (so far).
for i pad i think there is the metatrader 4 and you can use different brokers on it if im not mistaken. open a couple of demo for comparison, but yeah stick with demo, and make your starting amount like the real capital that you are willing to trade in the future and treat it like real money!! best of luck! there are lots of good brokers out there, and almost all brokers offer a demo account but most of them are for a limited time only you can just open again if needed hotforex is a good option as well, pepperstone is another one and best of luck
I agree. First of all I’ve started trading on demo account. And after some period of time opened real account. When I begin loosing my money I trade on demo to correct my trading strategy.
yup i agree, demo is even used in times that you are not sure of your live trading, like you wana try something but not loose money on live, then do the trade in demo it helps
Most of the top end brokers do provide their clients with mobile and android applications so they can trade on the move. Just check out the brokers and soon you’ll have a better idea on how to get started with your mobile platform…
Good luck with your trading!
I have a suggestion for you: try to asses your emotional level before everything else. I’ve learned trading is more about the skill of staying cold blood in whatever circumstances, than massive knowledge.
Yeah, would second that. Most newbies tend to rethink their trades half way through and opt to bail out with loss. The point being, until you control that emotion, that impulse, you’ll make the same mistakes…
Hello Globalpips,
Try babypips look for tools and Compare Forex Brokers.
Cheers, Samdag