As a beginner, must I finish the courses before trading? I believe I’d learn fast practising. Perhaps, demo trade. And what app should I download?
You can open a demo account to practice, most brokers offer metatrader 4 app to trade.
Just download and install any free mt4 and open a demo account to practice. Use account fundsize US10000, leverage 1:50 to help you get started. Practice using order size from 0.01 to 0.1.
Try out all the indicators and see which works and which does not. I do it this way for 1 week and pump in real money after that. Read up on stop loss hunting that can cause you to lose money, you will surely encounter this.
Man, the course is long! And unless you’re super dedicated, I’d just get a demo account now and use it while you read and learn. I tried going all the way through but felt myself slipping away a bit, getting bored with just the theory and text.
I want to trade! Get the demo account. If you find the course super duper interesting that you don’t need the account, great, put it to the side. But if you find you’re itching for the first trade, win or lose, why not get it out of the way already!
As for app, what do mean? Trading platform or are you trying to trade off your phone or something?
My 2 cents.
I’m demo trading with Oanda. Seems like a never ending demo (not like some of the two week demos out there) with fractional lots/units which is really cool for position sizing and risk management.
He is a new trader, so “App” is the word that came to his mind. When he is done learning, he’ll be using the term “trading platform”. Before using Forexchief live account, I checked some of their conditions on demo account. It does not expire. It is a also good for new traders because micro lot (0.01) is allowed and it can help minimize risk when you decide to practice with a live account. There is also the mobile app mt4 for demo trading.
Okay, thank you.
It’s too bulky. I’ve been cleared on the App. I’m trading on my mobile phone.
Thanks guys. I appreciate the love.
Sorry, what do you mean, bulky?