Hello all.
I am brand new to Forex and I Just started “middle school” in the “school of pipsology.” The question I have though is when to find a broker and/or start a demo account and start practicing? Should I fully finish the school of pipsology or start now. Or is this something that is up to me? Thanks for the help
Personally I finished the school of pipsology first . The reason being is that I did not know anything about trading.
I dont see anything wrong with starting a demo account now though. Even if its just to find a platform you will prefer to use later.
At the moment I just demo trade on the MT5 software which is not linked to any broker. I also have demo accounts with Blueberry markets, IG and trading 212.
Hi, in my experience it is never too soon to start looking at charts. You will learn much more than simply studying theory.
Start with demo practice side by side. It will help you to retain the information that you are learning from school of pipsology.
Finish the school first then do more research then demo when confident enough then switch to live but don’t rush into it
Thank you all for the great advice. Seems like the popular opinion is to start demo trading asap, so I think I will do that. I’m definitely a learn by doing type of person so I was thinking it might be the best approach but wanted some confirmation!
I would suggest you start practicing on demo as well. By this you can actually use your knowledge and will be able to remember all your learning and mistakes.