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Posted on Jun 16, 2015 at 05:15 PM
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The Benefits of Demo Trading

Demo trading is a critical part of a successful trading career as it could serve as a powerful tool in risk management

In yet another interesting trader’s forum that held in our Lagos office last Saturday, professional and new traders, analysts, and Forex instructors came together to talk about one thing – The Benefits of Demo Trading.

Surprisingly, we had varying perceptions of what a demo account is and the type of traders that benefit from it. Some believed that demo trading is meant for novice traders to get acquainted with Forex trading system, some other see it as a testing ground for new strategies, other traders described a demo account as a critical tool to be used at the beginning of one’s career and even continuously to test new strategies and build confidence in the Forex market.

One new Forex trader who had just concluded his Forex Freedom Training with Instafxng buttressed that his instructor emphasized the importance of demo trading and ensured he and other trainees start the ir Forex career with a demo account.

The Chief analyst of Instaforex NG, Mr. John who was the forum moderator was in agreement with traders. He gave the following points:

  1. Discipline and money management is a critical part of Forex success
  2. Every trader should start with a demo account.
  3. New strategies and trading techniques should also be tried first on a demo account
  4. Lastly, you should always treat your demo account like your live account. If for instance you will only be capable of funding your live account with $300, you should not then open a demo account with an amount above $300.

As always, this month’s traders’ forum ended on a high note. There was much discuss among traders, food to eat, and a lot of traders present won various exciting gift items. One of the winners was Mr Sanusi Oluwadare, he went home with a brand new Huawei Android smart phone.

 june winner_2

 

The next InstaForex traders’ forum holds on the 11th of July 2015. Click Here to reserve a seat now.

Open a trading account with instaforex

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