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THE ADVANTAGES OF USING A FOREX DEMO ACCOUNT

This PPT contains the benefits of having a demonstration (Demo) Account.

PlatinumTradingAcademy
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THE ADVANTAGES OF USING A FOREX DEMO ACCOUNT

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  1. FOREX DEMO ACCOUNT THE ADVANTAGES OF USING A FOREX DEMO ACCOUNT

  2. INTRODUCTION • This PPT contains the benefits ofhaving ademonstration (Demo)Account. • The psychological aspects of using a demo account and how it can help you to be prepared for the live market, and approach it with the right mentality, rather than losing yourwayandabandoningyourstrategies.

  3. WHY NEW TRADERS SHOULD SET UP A TRIAL ACCOUNT • The foreign exchange market is the biggest in the world with a daily volume ofover $5trillion. • Having a demo account will enable you to get used to certain platforms as well as test outyourskills without being punished by the market. WHAT IS A FOREX DEMO ACCOUNT? • A forex demo account will enable you to trade the markets as a simulation without having to put anyofyour owncapitalatrisk.

  4. THE BENEFITS OF A DEMO ACCOUNT • Having a demo trading platform will allow you to be able to train yourself in trading bypractising. DEALING WITH PSYCHOLOGY • Having a demo trading platform will allow you to be able to train yourself in trading bypractising.

  5. DEVELOPING STRATEGIES • The main reason people use demos is to develop different strategies in their trading portfolio, trying a new strategy on the live market is a big risk, if you make a mistake, real money is on the line. Being able to test them is key, and every trader should take note of this no matter how experienced they are. FINDING A ROUTINE AROUND YOUR LIFESTYLE • The main reason people use demos is to develop different strategies in their trading portfolio, trying a new strategy on the live market is a big risk, if you make a mistake, real money is on the line. Being able to test them is key, and every trader should take note of this no matter how experienced they are.

  6. THE BEST PRACTICE TO USE A FOREX DEMO ACCOUNT • The biggest thing withademo accountis to trade itjustlike you wouldtrade a live account. This means having the exact same amount to start with as youwouldwith alive account,this is key. ENSURE YOU ARE KEEPING TRACK OF TRADES • Having a trading journal will enable you to understand what strategies are working and what type of risk management will provide you with the results youarelookingfor.

  7. CONCLUSION • Having a demo trading platform is a no-brainer and every trader should have one as they start out in their journey, even as experienced traders we will use them when testing out new strategies. Trade the demo just like the live accountandtrustthe process!Trading is amarathon,notasprint!

  8. How to become a profitable Trader. By any chance, if you are a new trader and would like to learn how to trade, then sign up today to our 2-day free Foundation to Forex Trading Course. THANK YOU.

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