Why Demo Trading is Important in Forex

Demo Forex Trading- Equidious Research

The importance of forex demo account trading transcends the initial stages of real live trading with benefits that the trader can experience throughout his trading lifetime.  Through the pros and cons of starting out with a forex demo account, forex trading experts all agree that the practice these demos provide invaluable lessons for traders. 

Understand the Platform

Forex Trading unlimited possibilities for profiting, it also involves a large amount of risk and as brokers typically warn almost everywhere when it comes to leveraged products, losses may exceed your deposited money. That is why traders who are new to Forex must take advantage when brokers offer them to test their platforms and practice for free through demo accounts.

Order Dynamics

Depending on the market you trade, you have to make sure that you understand the different order types and also how to execute your trades. Demo is the ideal place for that because your actions don’t have any consequences.

Feel For The Market Dynamics

For beginner, this is important to avoid large losses and unnecessary trading mistakes. One has to pay close attention to market dynamics, how price moves and note down following points:

• When does price move the fastest and when doesn’t it move?
• How do price movements differ across different markets, forex pairs, timeframes?
• Which timeframe works best for your daily schedule?
• How do news impact price movements? Which news are the biggest movers?
• What type of price behavior do you feel most comfortable with?
• Do you see lots of gaps and how can you deal with them?
• Are you OK with overnight positions?

Preparing For Live Trading

When trading with a demo account, a beginner trader should always try to act like it is a real account so that the transition to real funds goes easier later. You should always keep the risk at levels you think you can manage, as if your hard-earned money was at stake.

You must also have in mind that although people’s risk appetite varies and everyone accepts losses in a different way, each person hates to lose money. This means that someone might feel relatively okay when losing $100 000 in a demo account, but might become highly agitated when losing as much as $50 of his real money.

Protect Your Emotional Capital

Protecting your emotional capital is even more important. A trader who loses his motivation, the fun and the excitement for trading becomes overly negative and frustrated is very likely to give up on trading completely.

Make sure that you understand your motives, don’t set yourself unrealistic expectations and don’t be too hard on yourself. Enjoy the process.

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Trade War : Will it be helpful for US economy & sagging Dollar ?

De-globalization is the idea which picked up energy after BREXIT. Trump’s choice to force duties of 25% and 10% on steel and aluminum import will add to de-globalization talk. US, under Trump, has hauled out of Trans Pacific Agreement and began arranging NAFTA. Worldwide exchange has begun redirecting from way of multilateral exchange settlement to plurilateral exchange agreement.

Forcing of levy by Trump, in bearing of US first arrangement, is probably going to harmed US and different economies associated with related exchange with Uncle Sam. Canada, Brazil, EU, China, Russia, UAE are the significant nations who are enjoyed exchange of both the wares. Car and development industry expends near 65-70% of US steel request. As per an article distributed in Reuters, a normal US vehicle devours 1-1.2 ton of steel .US steel generation cost is in the middle of $825-875 for each ton. In the event that we consider, imported steel cost in the middle of $650-750, 25% import levy may add $150-180 to the vehicle’s expense. Aside from steel, aluminum is additionally utilized in car which is likewise likely add to creation cost. US imports near 7 million tons of Aluminum as neighborhood creation isn’t equipped for providing to US request. Canada is the significant provider of both Aluminum and steel to US, which is as of now shaken by NAFTA arrangements. Retaliatory activities have been cautioned by EU, China and Canada. EU has arranged rundown of items, $3.5 billion worth of exchange, on which 25% import obligation will be mixed, in the event that Trump advance with the arrangement.

US shoppers are probably going to get affected as buyer surplus will be redirected to government’s assessment kitty since it is exceedingly far-fetched that trading economies will lessen rate so as to be focused. US ventures like vehicle, aeronautics, development, aluminum bundling will confront the brunt of expanded crude material expense and effect on deals. US is as of now loaded by twin deficiency and require remote money to cross over any barrier. Corporate tax break will liable to include $300 billion shortage over next 2 years. China and Japan holds more than 50 % of outside capital investment in US treasury. Treasury war is one of the retaliatory response which influenced nations can pick. This situation of dumping US bonds is profoundly impossible as it will in the end hurt treasury holding nations remaining bond portfolio .

Greater expense of definite merchandise will hurt investment funds of US buyers. US steel and aluminum industry are progressively capital concentrated. So machine will add benefit to makes bottomline and business won’t be profited much. Work in industry ,reliant on wares as crude material ,will be affected in the event that US purchasers don’t free tote to spend additional greenbacks. Inflationary weight will be checked whether US buyers keep obtaining at same pace. Treasury yields can ascend because of inflationary weight, quicker pace of financing cost climb and affected nations falling back on treasury war. In last 2 occurrences of tax climb in 1995 and 2002, greenback saw deterioration in esteem, however it was joined by different reasons moreover. Last couple of lodging and development information were appearing of first time purchasers because of more expensive rates of single family home which ascended by over 5% in 2017. 30 years home loan rate is drifting @4.3% which is close to multi year high. Expanded expense of development and weight on treasury yield (thusly affecting home loan yield) will build danger of droop in lodging area.

USD ought to at first devalue against worldwide monetary forms, if Trump proceeds with arranged tax climb. Progressively, difference in central banks policy will make US treasury increasingly pertinent to speculators looking for generally safe fair return venture and help greenback to win lost ground.

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Comex Insights 01.May.2019

CRUDE OIL:

• Current Price: 63.635

• Trend(Day Trading): Down

• Oil prices fell on 01.May.19 after a report showed a rise in USA crude inventories.

• USA crude stocks rose by 6.8 million barrels to 466.4 million barrels last week.

• Oil markets have already tightened this year due to supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) as well as U.S. sanctions on Iran’s oil exports.

• OPEC is due to meet in June to discuss its production policy, and while Washington has put pressure on the group to increase output to make up for the shortfall from Iran, OPEC’s de-facto leader Saudi Arabia said on Tuesday it had no immediate plans to raise output.

GOLD:

• Gold longs are making a renewed attempt at recapturing $1,300.

• Gold ended April trading lower after facing a stronger dollar for most of the month. But the yellow metal rose Tuesday, the final session of the month, as the dollar slid on bets that the Federal Reserve would hold interest rates steady again at the conclusion of its April meeting on Wednesday.

• Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, settled the official session up $4.20, or 0.6%, at $1,285.70 per ounce.

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FOREX INSIGHTS 29-DEC-2018

EUR/USD:

• EUR/USD is poised to close nearly 5% lower year-to-date with the pair trading just 1.5% off the 2018 lows.

• For months now, we’ve been tracking a key support pivot in Euro and the focus remains on a breakout of the consolidation range which has governed price since October.

• Price holding critical support confluence at 1.13

GBP/USD:

• Sterling is facing resistance and rallied a bit during the week, reaching towards the 1.27 level.

• The British pound has broken through a significant support a couple of candlesticks ago, and it now looks as if it is offering resistance yet again.

• GBP will continue to struggle, and the breakdown from a couple of candlesticks ago suggests that we are trying to make the next leg lower.

USD/JPY:

• Traders have remained net-long since Dec 18 when USDJPY traded near 112.517; price has moved 1.9% lower since then.

• The percentage of traders net-long is now its highest since Mar 11 when USDJPY traded near 106.9.

• The number of traders net-long is 8.7% higher than yesterday and 2.7% higher from last week, while the number of traders net-short is 14.5% lower than yesterday and 17.2% lower from last week.

CRUDE OIL:

• U.S. oil futures finished higher Friday after government inventory data showed a smaller-than-expected fall in crude inventories, but contrasted with unofficial figures that had showed a massive supply build, sparking a relief rally.

• West Texas Intermediate(WTI) crude for February delivery rose 72 cents, or 1.6%, to end at $45.33 a barrel.

• Oil booked a weekly decline of 0.6% based on last Friday’s settlement.

GOLD:

• Gold prices pressed higher on Thursday as a record surge in stocks showed signs of fading and political uncertainties supported demand for the safe haven metal.

• Gold futures for February delivery on the Comex division of the New York Mercantile Exchange rose $5.70, or 0.45%, to $1,275.45 a troy ounce.

• Gold surged 4% so far in December as investors rotated out of stocks and into the safe haven asset.

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Trading Psychology and Methodology

1. Currency Pair Analysis: Perform a world class analysis to determine which currency pairs have the greatest profit potential.

2. Trade Management: Trade management techniques to take the most of each trade when the market moves on their favor.

3. Study the Market: Entry system adapts to the current market conditions, follow the market instead of guessing.

4. Risk Management: Risk management techniques to set stop loss and take profit orders at optimal levels. Accept risk and feel comfortable with their trading, they know it’s the only way to get consistent results.

5. Money management techniques to allow the geometric growth of their account and avoid the risk of ruin.

Long-term analysis: Methodology to determine which currency pairs have the greatest profit potential.

Short-term analysis: Entry systems: breakout, retracement and continuation price action entries.

Capital management: Determine the formula that you will use to decide how much capital to risk on each trade.

Trade management: Strategies to manage trades, when to scale in and scale out of trade and more.

Risk management: Optimal levels to set stop loss, take profit levels, trailing stop to help you reduce risk.

Trading Psychology: what needs to know to accept risk and feel comfortable about every trading decision made.

All the above qualities are being taken care in Equidious Research.

Join 300,000+ traders who stay ahead of the market, submit your details with us by filling our CONTACT FORM.

For the Best Forex Signal| Accurate Stock Signal| Profitable Comex Signals, Try Equidious Research Services. We have a team of best and well experienced Research Analysts.

Trading is an art of making handsome amount.

Enjoy Trading!