What’s a good Forex demo trading system?
Something like Investopedia for stocks and options. Also, what hours are Forex open. Thanks.
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Tagged with: Forex Questions • Investopedia • open • something • stocks
Filed under: Forex Software
I am trying to get into the market myself and so i have been learning through the practice accounts. The one i liked most was FXCM, i found that is was simpler to use than a couple others and has helped me to understand more about the market and try a few methods. But all the practice account give you a month unless you sign up.
Some basic facts on Forex;
90% of those that try Forex Trading don’t make a profit. A significant amount lose 50%+ of their account.
Your doing well in Forex if you "win" 60% of your trades.
Many brokers make money when you lose money.
Forex is open 24hrs a day Sunday ( 5:30PM EST) night through
Friday, 5:00PM EST.
It’s dangerous to trade any time. It’s significantly more dangerous to trade during "slow periods".
Paper trading is never (ever) like real trading. Try using micro mini’s to trade (@ 10 cents a pip) to learn.
Read many books. All Forex brokers are poor. You just have to pick the right one (or ones) that suit your style of trading. You’re going to pick the least bad (based on your needs).
You need to have a good understanding of technical analysis as well as fundamental approach.
Having said that… I love it. I’ve been learning for the past 8 months. I’m still not making money… but I’m doing much better.
Most people don’t make it this long.
Email me if you get further involved. Don’t be greedy. Greedy kills in this market. Don’t think you’re smarter than the market.
Good luck!
I have been using the FreedomRocks system now for about five months and I am absolutely impressed with the way it handles draw downs. The past few weeks the Pound has been dropping like an anchor, however, my account still has not even came close to a margin call. The system operates on a hedge strategy, thus balancing our portfolios by trading currency pairs that historically speaking move in opposite directions. Another one of my favorite parts of the system is that I am earning interest every single day on my account. Most traditional traders try to guess which way the market is going to go, buy in, and then hope it goes in their favor. If not, then guess what, they end up a statistic in the 95% of people who lose their money within the first sixty days. Another advantage to using FreedomRocks is that you need absolutely no prior knowledge of the Forex. In fact, when I first started using the system I didn’t even know what the Foreign Currency Exchange Market was. When using the FreedomRocks system I don’t care which way the market moves because I am always earning daily interest, and I am always buying low and selling high. I don’t read charts, study graphs, buy data feeds, or listen to the news because the system does 95% of the work. I would encourage anyone trying to win at the forex market visit www.simple4xinvesting.com
I am a real person winning in the Forex market. Feel free to call my anytime.
Best Regards
Chris Thomas
541-255-2647
Skype ID: christhomas4
ctppl541@yahoo.com