yes it is. we can use high leverage and our all trading strategies in demo to see the performance how these works. this approach can support us for avoiding unfortunate losses and risk when trading in real account.
In my opinion, 10 pounds are too little money to trade in forex. you can only open a cent account with it. However, the above is a good thing for a newcomer.
Hello Friends
If anyone is new in Forex and want to start trading then check out these basis steps 1st
- Open Demo Account
- Keep learning and ways to trade
- Once you learn something then you have to test it
his is easy and genuine way to learn trading first of all get basic knowledge , then open a demo account .Do a lot of practice on demo account so that you understand all about forex trading and usage of trading details. Then try to manage trading with specific amount.
its an ordinary suggestion but effective , actually its all about regular practice in demo or live account.
Pips school+ demo account= minimum good result when kick off a live account but minimum 3 months should continue besides preschool level.
Thanks to all for discussion
I always appreciate the people who take trading as their career. You need to stay patient all the time in order to grab the opportunities at the right moments. Panic behavior ruins the life, money, and time of the traders badly. So stay calm and be desciplined!
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No question is a silly one in forex trading. My sincere advise to you is to do demo trading first. Demo trading provides you with a platform to learn and experience the world of forex. You will know the dos and don’ts of forex without the risk of losing actual investment.
To the honest you can’t open cent account. You rather first get an acquaintance with the basic ideas of forex trading. Babypips is offering learning tools for the new babies. But the good news is when you will finish your lessons, you can see that many brokers are offering mini trading account starts with the investment of $100 to $500.
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