Newbie Forex traders choice demo account or 100$ trading account | It is some what hard for new Forex traders they need more time to survive in the market that has big bulls and tough bears.
You cannot become the master with in few hours of trading in meta trader it needs more practice daily to survive. A day with profit is not good eligibility to enter into the live market more losses will come check your strategy on various situations and various pairs.
Not all pairs will work in technical side some pairs or commodity will not mind about technical and may boost very fast on opposite side. you should have always prepared for unexpected trade flow additionally. Always make alerts in mobile or PC which will help you to find unexpected happening in the market.
Stop loss will also work but not in market behaves violently if you made a stop loss points for 10 points if the market jumps in that time it may not stop at that 10 point based on the volumes only it will make your stop loss active.
So if you are new Forex trader concentrate on articles first before jumping into the demo account, cause even a guess may give you more profit but not every time. Luck wont help in the Forex market, articles and live tutorials are available in may websites for free and paid.
Always don’t pay for trade positions it won’t long last to cause your saviors may let your account blow and escape. In the chat sessions and in forums of Forex some traders may post their positions but don’t think they all are true in the forums don’t think all were good and they want you to make money.
So in demo account try to start with minimum amount and better suitable leverage. These leverages will help you to stop the losses by calculating the margin if you have traded on wrong side in the meta trader.
Choose the best meta trader or web trader or mobile platform consider them which is best for you and try with demo account. These mobile platform wont give more indicators so it is hard to find the movement in our point of view.
So in the low leverage the trade may close in loss if you have crossed the loss limit in you traders. Choose which meta trader is good for you better it is 4 or 5. There are many different style in meta trader 5 cause it can make only one trade in a pair at a time you cannot make a backup trade in opposite direction just like meta trader 5 and there is different time frames available in these 5th version.
Indicators list are vast in meta trader 4 but not in 5 it is still under development but don’t worry if you need a indicator you can order your own via portal where there are thousands of meta trader signal coders available.
Basically all the coding of meta-trader are available in the online education if you know c# c sharp it is very simple to make it your own instantly. So while starting the demo account be discipline consider the losses and profits check whether is suitable for your mindset.
If you are facing more losses just quit the trading if your mindset is not for trades. Don’t just top up the demo account balance if your account were facing more losses. When it comes real money your trade style may change so try to trade in demo account as real Forex account.
But keep in mind you cannot trade without losses even the Forex book article write / pro traders may also fail some time try to compensate losses and loss only less amount and always control your emotion.
So in live account start with more than 500$ cause less than that may blow if the trades were in wrong position and you cannot even withdraw if the amount in trading balance is less than 100$. Many brokers may allow you to deposit with even 1$ but they cannot long last.
So don’t wait start your Forex account after many months of practice and all the best for your trades.