Where can I get experience in order not to lose my money?
Practice shows that many traders immediately seek to get money from trading. But this, as a rule, leads to losses, which is not surprising, since in order to win – you need to learn how to. This is where a virtual account or a demo account comes to the rescue, where you can learn and work out all the tricks that will later help to increase the money on your deposit more and more.
More recently, just a few decades ago, there was no virtual account with traders, so you had to learn how to play in a fairly hard mode, losing your hard earned money. So modern traders have very big advantages in comparison with their predecessors. After all, it is a demo account that helps to learn and not go broke at the same time.
The great advantage of a virtual account, of course, is that the graph itself, unlike many simulators, is quite real. And that means – you can make deals, when no one in the world knows yet exactly where the schedule will go – and later with everyone to see if you were right or not. This allows you to quickly adapt to real charts in the real forex market, provided that you have constant practice. Where do you, in general, then trade.
Playing on a virtual account, you will not lose anything, which is very, very nice. As for the winnings, then if you consistently win on a virtual account – then welcome to the real one, it’s time for you to try yourself there. If there is no stable win, if the money burns out, then it’s very good that they are not real. Play, try new strategies and principles until the winning becomes a constant companion for you.
With regard to the size of the deposit on a virtual account, it is clear that you can make yourself a million dollars. But it is better to try to put there realistic amounts, on which you will then trade. This will allow not only to learn how to make transactions, but also to manage your deposit, which is no less important for a positive effect. Today, there are a large number of brokerage companies that enable traders to open a demo account and more! You can also participate in the contest for traders on demo accounts. The prize is real money! And if you feel confident, you can open a real account in any of the reliable brokers.
Only experience, diligence and knowledge of the laws of the foreign exchange market will help you to earn consistently on a real account.