Practice makes a Forex trader perfect ?

[hasan87]

There is a proverb that practice makes a man perfect. Do you think that this proverb is suitable for Forex market. I think it is true. If you practice demo trading, follow the basic rules of Forex trading and thus in this way you can get proper training through this practice then you surely do better in Forex business. What do you think about this?

 

[Daisy]

Yes, that will be true also in forex. The more you trade the more you will learn and the more money you will make. I learn something new everyday from my trades so I think a serious trader should practice in a micro account for awhile and he will pick up a lot of good experiences. I think a demo will do a lot of good as well.

 

[Decub]

It is a simple fact that works not only in Forex but other things. Though perfection is one thing that is difficult to come by but the more we learn, the better trader we shall make. Practice helps a trader in no small way to get over the hurdles of learning easier.

 

[sindarin]

It won't make you become a perfect trader but practice will shape your skills and for sure will increase your profit if you already mastered the skills that you practiced before.

 

[willy]

yes of course you are right 100% in your opinion because i think that training with demo account is the basic thing in trading therefore it must be the first step before anything and also the trader can apply what did he learn with demo account and test his strategy which he will trade with real account

 

[Pettyeve]

It is true. When a trader is practicing more and more, it is going to make him or her to trade well. Practice makes perfect for any tader and before you will learn how to trade in here in the forex business very well, you have to be able to know how to trade very well.

 

[Lee Mark]

Agree with you, but the thing is new traders need to practice their demo so sincerely! I see, many new traders have a short-term target, like 2 months- 3 months demo practice! That’s not the correct way of using demo account!

 

[Kuznec]

Never stay on a demo account for longer than 1-2 weeks. Otherwise, risk becoming a nonsense in Forex. Imagine that you are undergoing surgery by a surgeon who has been practicing anatomical mannequins for 10 years and you are his first living patient. I would never entrust my life to such a doctor.

 

[Smash Fun]

Never stay on a demo account for longer than 1-2 weeks. Otherwise, risk becoming a nonsense in Forex. Imagine that you are undergoing surgery by a surgeon who has been practicing anatomical mannequins for 10 years and you are his first living patient. I would never entrust my life to such a doctor.

I will suggest to everyone that demo is important. There is no specific time to learn on a demo account, it is all your choice that how you want to learn but keep in mind that learning the right and with maturity is important.

 

[raniya]

I will suggest to everyone that demo is important. There is no specific time to learn on a demo account, it is all your choice that how you want to learn but keep in mind that learning the right and with maturity is important.

Even when we already use real account, we still be able to use demo account. We can use it anytime we want. I also still use demo account in FXB to get more trading experience

 

[Nezami]

According to me, when a trader is a newbie in Forex , the first thing he or she should be doing to do more of the learning. The beginner traders do not know which road to take in Forex and that is why they are always getting confused, it is better when they take their practicing and learning very serious so that they can learn better.

 

[sininfinity]

Well there is noting called perfection in this business. Practice surely will make one a better trader. But there is nothing that will make a perfect trader. And better in this business is enough.

 

[Irina]

Already a public secret, traders who have succeeded originally always do exercises on the demo-account, then stepped into a real account to train mental trading becoming increasingly good and does need quite a long time to be able to understand

 

[Tom Latham]

This is way, I prefer demo practice! Even, right now I am active in the demo for updating my personal trading strategy! Besides, I make 5-8% monthly return (in average) in my live trading account!

 

[helodear123]

Demo account trading is in fact the biggest asset for any successful trader in my opinion and we need to stick with demo besides our real trading as it allow us to back test any strategy before implementing them to live account.

 

[helodear123]

I have also noticed that there are many demo contests where the new traders can get prizes as well if they becomes winners, examples are like lmfx learn and earn demo contest or there might be many more like these i guess.

 

[lioneld]

There is a proverb that practice makes a man perfect. Do you think that this proverb is suitable for Forex market. I think it is true. If you practice demo trading, follow the basic rules of Forex trading and thus in this way you can get proper training through this practice then you surely do better in Forex business. What do you think about this?

No doubt, practice is important but you have to practice in the right way! If you are trading with a good trading strategy and practice more and more! Obviously, you success is on the way! By the way, I practiced my demo for 1 year.

 

[Smash Fun]

A demo account is a good training just to understand the dynamics of the market, the value of a pip, leverage effect, margin requirements etc. Once you get these concepts, the real trading is emotional based.

 

[Gerald Davydov]

There is a proverb that practice makes a man perfect. Do you think that this proverb is suitable for Forex market. I think it is true. If you practice demo trading, follow the basic rules of Forex trading and thus in this way you can get proper training through this practice then you surely do better in Forex business. What do you think about this?

Yes it is possible to be benefitted from losses if we can it as a lesson. Every loss is a lesson. Traders use journal to keep track of their past trading mistake so that they can learn from their mistakes. Learning from mistakes is the best learning.

 

[Svetlana Loboda]

A demo account is a good training just to understand the dynamics of the market, the value of a pip, leverage effect, margin requirements etc. Once you get these concepts, the real trading is emotional based.

Thank you very much for your contribution but I think, only basic knowledge is not enough for the live trading! Traders need to start their live trading when they have a profitable trading strategy otherwise not.