For a successful start at forex, you have to trust and feel confident about yourself because you alone will be the cause of your success or failure in this business. No one has to go to college to know the ins and outs of trading. Everything needs practice including forex. However, getting in this business with a lot of money and very little knowledge will lead you to a downfall, even if you try to recover in a few months after your first failure. On wrong move could be following a demo account. This type of “practice tool” can’t really be reliable especially for big players who use millions in trading.
The only reason for this is that you can only learn about the basics of forex trading. Unless you get a “hands-on” about forex and get on the “real” thing, then that is where you’ll learn more about trading.
On the other hand, the best benefit that you can get for forex demo accounts is that you can try them with small amount of real money and less fee to pay for education. You just have to have a lot of patience to take time to learn from setting your trade up and the more you repeat the process, the more you’ll learn from the trading business.
When going to real money account, be disciplined and follow rules you build when trading in demo account… Remember - greed and fear are natural, therefore think over every and any decision you did not plan before going into position.
