SHOULD I GO WITH DEMO ACCOUNT?
Forex trading competition is great way for beginner to learn about trading in currency market. Most new trader fail to be come successful trader because of emotional decision. It’s very likely, a noobie will tempted when he/she make a very large money in only one hour. I bet they want to gain more and more. And when this is happen, your previous crystal clear analysis will be biased with your greed.
For that reason, forex broker always suggest their new client to open a demo account. So new trader will not burned all their money for short time period.
Demo Account vs Forex Competition
Learning with demo account is good step for beginner. Get familiar with the platform and do paper trade with virtual money. Unfortunately, using virtual money can’t train your emotion. It’s surely different situation when it comes with real money. Your money!
Yes… to educate your emotion is the most expensive lesson in forex. There are cheaper way that you want to try out. You can even get started with zero cost.
Utilizing forex competition is a clever way to do it. But most of contest require you to open real account with certain minimum deposit. Only few of them giving free entrance and you can keep your winning cash.
